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

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $1,768.63.

A number of research analysts recently weighed in on the stock. Wedbush restated an "outperform" rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a report on Monday, January 29th. DA Davidson reiterated a "neutral" rating and set a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a report on Monday. StockNews.com downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a research report on Thursday, March 21st. They set a "buy" rating and a $1,950.00 price target for the company. Finally, UBS Group raised their price objective on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a "buy" rating in a research note on Tuesday, January 30th.

First Citizens BancShares Price Performance

FCNCA traded down $5.09 during trading on Tuesday, reaching $1,532.51. 66,553 shares of the company traded hands, compared to its average volume of 81,684. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $22.25 billion, a P/E ratio of 1.95 and a beta of 0.89. First Citizens BancShares has a 12-month low of $945.32 and a 12-month high of $1,651.73. The firm has a fifty day simple moving average of $1,560.11 and a 200 day simple moving average of $1,465.25.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. The firm had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.36 billion. On average, equities analysts forecast that First Citizens BancShares will post 178.72 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $1.64 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 annualized dividend and a dividend yield of 0.43%. First Citizens BancShares's payout ratio is currently 0.84%.

Insider Activity

In other news, Director Ellen R. Alemany sold 600 shares of the firm's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the transaction, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other First Citizens BancShares news, insider Hope Holding Bryant bought 300 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the completion of the transaction, the insider now directly owns 1,978 shares of the company's stock, valued at approximately $2,601,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen R. Alemany sold 600 shares of the business's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the sale, the director now directly owns 4,842 shares of the company's stock, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. Insiders have bought 1,388 shares of company stock valued at $1,825,220 in the last ninety days. 12.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Citizens BancShares

A number of hedge funds have recently added to or reduced their stakes in FCNCA. Blue Trust Inc. raised its position in First Citizens BancShares by 100.0% during the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank's stock worth $27,000 after acquiring an additional 10 shares during the last quarter. GAMMA Investing LLC acquired a new position in First Citizens BancShares during the 4th quarter valued at about $30,000. Castleview Partners LLC acquired a new position in shares of First Citizens BancShares in the 2nd quarter worth approximately $31,000. Mather Group LLC. acquired a new position in shares of First Citizens BancShares in the first quarter worth about $31,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of First Citizens BancShares by 53.3% during the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank's stock worth $32,000 after purchasing an additional 8 shares during the period. 61.18% of the stock is currently owned by institutional investors and hedge funds.

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.