First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives Consensus Recommendation of "Moderate Buy" from Analysts

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $2,299.50.

A number of analysts have issued reports on the company. Citigroup lifted their price objective on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Cowen assumed coverage on First Citizens BancShares in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Wall Street Zen downgraded First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. UBS Group reaffirmed a "buy" rating and issued a $2,410.00 price objective on shares of First Citizens BancShares in a research note on Wednesday. Finally, TD Cowen assumed coverage on First Citizens BancShares in a research note on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price objective on the stock.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 350 shares of the 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 acquisition, the chief executive officer owned 2,758 shares of the company's stock, valued at $4,440,380. This represents a 14.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.40% of the company's stock.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of First Citizens BancShares during the 4th quarter worth $40,000. Steward Partners Investment Advisory LLC lifted its stake in shares of First Citizens BancShares by 10.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 77 shares of the bank's stock worth $164,000 after purchasing an additional 7 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of First Citizens BancShares during the 4th quarter worth $147,341,000. Raymond James Financial Inc. purchased a new stake in First Citizens BancShares in the fourth quarter valued at about $39,739,000. Finally, Amundi raised its stake in First Citizens BancShares by 1.7% in the fourth quarter. Amundi now owns 8,955 shares of the bank's stock valued at $18,752,000 after buying an additional 146 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Price Performance

NASDAQ FCNCA traded down $14.07 during trading hours on Thursday, reaching $2,117.62. The company's stock had a trading volume of 78,369 shares, compared to its average volume of 89,408. The firm's 50-day moving average price is $1,907.01 and its 200-day moving average price is $1,938.91. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.77. First Citizens BancShares has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The company has a market capitalization of $28.14 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.97 and a beta of 0.64.

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

First Citizens BancShares Announces Dividend

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

First Citizens BancShares Company Profile

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.