First Citizens BancShares (NASDAQ:FCNCA) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of First Citizens BancShares (NASDAQ:FCNCA - Free Report) from a hold rating to a sell rating in a report issued on Monday morning.

Several other analysts have also recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Truist Financial lifted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. The Goldman Sachs Group dropped their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. raised their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,330.82.

First Citizens BancShares Stock Up 0.1 %

NASDAQ:FCNCA traded up $2.33 on Monday, hitting $1,781.47. 67,771 shares of the company's stock were exchanged, compared to its average volume of 88,695. The firm has a 50-day moving average price of $1,792.06 and a 200-day moving average price of $2,018.46. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The company has a market cap of $24.19 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66.

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, beating analysts' consensus estimates of $37.72 by $0.07. The company had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, analysts expect that First Citizens BancShares will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares's payout ratio is presently 4.47%.

Insiders Place Their Bets

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. This trade represents a 1.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.40% of the company's stock.

Institutional Trading of First Citizens BancShares

Several hedge funds have recently bought and sold shares of the business. Mather Group LLC. grew its position in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after purchasing an additional 5 shares during the period. Private Advisor Group LLC lifted its stake in First Citizens BancShares by 3.0% during the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock valued at $363,000 after acquiring an additional 5 shares in the last quarter. Exencial Wealth Advisors LLC lifted its stake in First Citizens BancShares by 1.2% during the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock valued at $904,000 after acquiring an additional 5 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in First Citizens BancShares by 3.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock valued at $328,000 after acquiring an additional 5 shares in the last quarter. Finally, JT Stratford LLC lifted its stake in 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 acquiring an additional 5 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

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.