First Citizens BancShares, Inc. (NASDAQ:FCNCA) Given Consensus Recommendation of "Moderate Buy" by Brokerages

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) has been given a consensus rating of "Moderate Buy" by the fourteen analysts that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $2,340.33.

FCNCA has been the topic of a number of research analyst reports. Truist Financial upped their target price on shares of 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. Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Wall Street Zen cut First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Jefferies Financial Group assumed coverage on First Citizens BancShares in a research report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 target price for the company. Finally, Cowen began coverage on First Citizens BancShares in a report on Wednesday, May 14th. They issued a "buy" rating for the company.

Insider Buying and Selling at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 350 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were purchased at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,758 shares in the company, valued at $4,440,380. The trade was a 14.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig L. Nix acquired 17 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.40% of the stock is owned by insiders.

Institutional Trading of First Citizens BancShares

Several large investors have recently bought and sold shares of the stock. Barclays PLC grew its stake in First Citizens BancShares by 19.2% during the 3rd quarter. Barclays PLC now owns 7,195 shares of the bank's stock valued at $13,246,000 after purchasing an additional 1,158 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock worth $531,961,000 after purchasing an additional 18,501 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of First Citizens BancShares by 25.1% during the fourth quarter. Park Avenue Securities LLC now owns 494 shares of the bank's stock worth $1,044,000 after purchasing an additional 99 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth about $427,000. Finally, Solidarity Wealth LLC purchased a new stake in First Citizens BancShares in the fourth quarter valued at approximately $1,690,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Trading Down 1.0%

FCNCA traded down $18.77 during trading hours on Wednesday, reaching $1,822.27. 45,012 shares of the company's stock traded hands, compared to its average volume of 89,010. The firm has a 50-day moving average price of $1,791.33 and a 200 day moving average price of $2,001.10. The firm has a market capitalization of $24.22 billion, a PE ratio of 9.62, a PEG ratio of 0.94 and a beta of 0.64. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares has a 52-week low of $1,473.62 and a 52-week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results 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 firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, sell-side 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 will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares's payout ratio is 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.