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

Key Points

• Analyst consensus: "Moderate Buy" — Thirteen analysts cover FCNCA (1 sell, 5 hold, 6 buy, 1 strong buy) with an average 1‑year price target of $2,238.27.
• Quarterly beat — First Citizens reported EPS of $51.27 vs. $44.24 expected and revenue of $2.44B vs. $2.24B expected, with a return on equity of 11.18% and a net margin of 15.21%.
• Dividend and ownership — The bank paid a $2.10 quarterly dividend ($8.40 annualized, ~0.5% yield) and is 78.01% institutionally owned; shares trade near $1,766 with a P/E of 10.66 and a $21.09B market cap.

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $2,238.2727.

A number of equities analysts have recently issued reports on the stock. Citigroup restated a "buy" rating on shares of First Citizens BancShares in a research report on Monday, January 26th. Piper Sandler upped their price target on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the company a "neutral" rating in a research report on Thursday, January 29th. Barclays decreased their price target on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an "equal weight" rating for the company in a research note on Monday, January 26th. JPMorgan Chase & Co. raised their price objective on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 16th. Finally, Truist Financial lifted their price objective on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a "hold" rating in a research note on Monday, January 26th.

Institutional Trading of First Citizens BancShares

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings in shares of First Citizens BancShares by 1.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank's stock valued at $69,324,000 after purchasing an additional 681 shares during the period. Empowered Funds LLC grew its position in First Citizens BancShares by 71.9% in the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank's stock valued at $727,000 after buying an additional 164 shares during the last quarter. Focus Partners Wealth grew its position in First Citizens BancShares by 5.2% in the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank's stock valued at $447,000 after buying an additional 12 shares during the last quarter. Allworth Financial LP increased its stake in First Citizens BancShares by 35.3% in the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank's stock valued at $45,000 after buying an additional 6 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in First Citizens BancShares by 3.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 580 shares of the bank's stock valued at $1,135,000 after buying an additional 20 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 0.1%

Shares of NASDAQ FCNCA opened at $1,766.01 on Tuesday. The business has a 50-day moving average price of $2,040.13 and a 200 day moving average price of $1,951.78. The stock has a market cap of $21.09 billion, a PE ratio of 10.66 and a beta of 0.68. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. First Citizens BancShares has a 52-week low of $1,473.62 and a 52-week high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%.The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. Equities research analysts forecast that First Citizens BancShares will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, February 27th. First Citizens BancShares's payout ratio is 5.07%.

About First Citizens BancShares

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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