First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,299.50 Average Price Target from Brokerages

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) has been given an average rating of "Moderate Buy" by the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $2,299.50.

Several equities analysts have recently weighed in on FCNCA shares. Barclays reduced their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. TD Cowen assumed coverage on First Citizens BancShares in a report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 target price for the company. Jefferies Financial Group began coverage on shares of First Citizens BancShares in a report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, UBS Group reaffirmed a "buy" rating and set a $2,410.00 target price on shares of First Citizens BancShares in a report on Wednesday.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the business's stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,758 shares in the company, valued at approximately $4,440,380. This represents a 14.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

Institutional Trading of First Citizens BancShares

Several hedge funds and other institutional investors have recently bought and sold shares of FCNCA. Farther Finance Advisors LLC raised its stake in shares of First Citizens BancShares by 42.1% during the second quarter. Farther Finance Advisors LLC now owns 341 shares of the bank's stock valued at $667,000 after acquiring an additional 101 shares during the last quarter. Assenagon Asset Management S.A. raised its position in First Citizens BancShares by 510.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,270 shares of the bank's stock valued at $2,485,000 after purchasing an additional 1,062 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in First Citizens BancShares by 21.4% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,249 shares of the bank's stock worth $12,226,000 after buying an additional 1,100 shares during the period. Triangle Securities Wealth Management lifted its holdings in First Citizens BancShares by 118.8% in the 2nd quarter. Triangle Securities Wealth Management now owns 617 shares of the bank's stock worth $1,207,000 after buying an additional 335 shares during the period. Finally, Swedbank AB grew its position in shares of First Citizens BancShares by 4.9% in the 2nd quarter. Swedbank AB now owns 2,658 shares of the bank's stock worth $5,200,000 after buying an additional 125 shares during the last quarter. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA traded down $14.07 during midday trading on Thursday, reaching $2,117.62. The company had a trading volume of 78,369 shares, compared to its average volume of 89,214. The company's 50 day moving average price is $1,907.01 and its 200 day moving average price is $1,940.39. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.77. First Citizens BancShares has a 52-week low of $1,473.62 and a 52-week high of $2,412.93. The stock has a market cap of $28.14 billion, a P/E ratio of 12.13, a P/E/G ratio of 0.98 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. As a group, sell-side analysts anticipate that First Citizens BancShares will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Friday, May 30th. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.47%.

About First Citizens BancShares

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.