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

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $2,330.82.

FCNCA has been the topic of a number of analyst reports. The Goldman Sachs Group dropped their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. JPMorgan Chase & Co. upped their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods increased their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Finally, Truist Financial boosted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th.

Insiders Place Their Bets

In other First Citizens BancShares news, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the acquisition, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.40% of the company's stock.

Hedge Funds Weigh In On First Citizens BancShares

Several hedge funds have recently bought and sold shares of the company. Mather Group LLC. raised its stake in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after buying an additional 5 shares during the last quarter. Private Advisor Group LLC increased its position in First Citizens BancShares by 3.0% during the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock valued at $363,000 after acquiring an additional 5 shares during the last quarter. Exencial Wealth Advisors LLC increased its position in First Citizens BancShares by 1.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock valued at $904,000 after acquiring an additional 5 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in First Citizens BancShares by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock worth $328,000 after purchasing an additional 5 shares during the last quarter. Finally, JT Stratford LLC increased its position in shares of First Citizens BancShares by 0.4% during the 4th quarter. JT Stratford LLC now owns 1,247 shares of the bank's stock valued at $2,635,000 after purchasing an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Trading Down 1.9 %

Shares of FCNCA stock traded down $34.42 on Friday, hitting $1,758.63. The stock had a trading volume of 25,446 shares, compared to its average volume of 88,674. The firm has a market cap of $23.88 billion, a P/E ratio of 9.28, a PEG ratio of 0.94 and a beta of 0.66. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a fifty day moving average price of $1,802.34 and a two-hundred day moving average price of $2,021.89. First Citizens BancShares has a twelve month low of $1,473.62 and a twelve month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. As a group, analysts forecast that First Citizens BancShares will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is 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.