First Citizens BancShares (FCNCA) to Release Quarterly Earnings on Thursday

First Citizens BancShares (NASDAQ:FCNCA) will be announcing its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $43.51 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. On average, analysts expect First Citizens BancShares to post $177 EPS for the current fiscal year and $195 EPS for the next fiscal year.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,622.75 on Tuesday. First Citizens BancShares has a twelve month low of $945.32 and a twelve month high of $1,651.73. The stock’s 50 day moving average is $1,566.98 and its two-hundred day moving average is $1,472.16. The firm has a market capitalization of $23.56 billion, a PE ratio of 2.07 and a beta of 0.89. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio is presently 0.84%.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 466 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average cost of $1,315.00 per share, for a total transaction of $612,790.00. Following the acquisition, the insider now owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Olivia Britton Holding acquired 466 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, for a total transaction of $612,790.00. Following the acquisition, the insider now directly owns 121,694 shares in the company, valued at approximately $160,027,610. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frank B. Holding, Jr. acquired 622 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the acquisition, the chief executive officer now owns 97,609 shares in the company, valued at $128,355,835. The disclosure for this purchase can be found here. In the last three months, insiders acquired 1,388 shares of company stock worth $1,825,220. Insiders own 12.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FCNCA shares. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. DA Davidson reissued a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. UBS Group boosted their price target 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. Wedbush reissued an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a research note on Monday, January 29th. Finally, Barclays assumed coverage on First Citizens BancShares in a research note on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $1,768.63.

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.