First Citizens BancShares, Inc. (NASDAQ:FCNCA) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analyst consensus "Hold": Fourteen brokerages cover FCNCA with a consensus rating of "Hold" (9 hold, 4 buy, 1 strong buy) and an average 12‑month price target of about $2,202.
• Latest quarter: EPS beat, revenue miss: First Citizens reported $44.86 EPS vs. $43.31 expected, while revenue was $2.14 billion versus $2.20 billion anticipated.
• Share metrics & dividend: FCNCA opened at $2,002.14 with a market cap of $23.9B and a P/E of 11.51; the company announced a $2.10 quarterly dividend ($8.40 annualized, ~0.4% yield), ex-dividend May 29.

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) have earned a consensus recommendation of "Hold" from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $2,202.0833.

A number of brokerages recently weighed in on FCNCA. The Goldman Sachs Group downgraded shares of First Citizens BancShares from a "buy" rating to a "hold" rating and set a $2,300.00 price target on the stock. in a report on Tuesday, January 6th. Citigroup reaffirmed a "neutral" rating on shares of First Citizens BancShares in a research report on Friday, April 24th. Weiss Ratings reiterated a "buy (b-)" rating on shares of First Citizens BancShares in a research note on Friday, March 27th. Wall Street Zen raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, Truist Financial lifted their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a "hold" rating in a report on Monday, January 26th.

First Citizens BancShares Price Performance

FCNCA opened at $2,002.14 on Wednesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $23.91 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.50 and a beta of 0.63. The firm's fifty day moving average price is $1,926.57 and its two-hundred day moving average price is $1,969.46. First Citizens BancShares has a 1 year low of $1,623.76 and a 1 year high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping the consensus estimate of $43.31 by $1.55. The firm had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.20 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.37%. During the same quarter last year, the firm earned $37.79 EPS. As a group, analysts anticipate that First Citizens BancShares will post 176.04 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a $2.10 dividend. The ex-dividend date is Friday, May 29th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares's payout ratio is presently 4.83%.

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 134 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $1,550.00 per share, for a total transaction of $207,700.00. Following the purchase, the chief executive officer owned 2,749 shares of the company's stock, valued at approximately $4,260,950. The trade was a 5.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders acquired 258 shares of company stock worth $404,236. 14.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Citizens BancShares

Large investors have recently modified their holdings of the business. Hilton Head Capital Partners LLC bought a new stake in shares of First Citizens BancShares during the 4th quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new stake in First Citizens BancShares in the third quarter valued at approximately $27,000. UMB Bank n.a. lifted its position in First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank's stock valued at $29,000 after purchasing an additional 8 shares during the last quarter. Root Financial Partners LLC purchased a new position in First Citizens BancShares in the 3rd quarter worth approximately $32,000. Finally, Harbor Investment Advisory LLC grew its stake in First Citizens BancShares by 150.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank's stock worth $32,000 after buying an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.

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