Analysts Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) Price Target at $1,829.90

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAGet Free Report) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $1,829.90.

A number of brokerages have recently issued reports on FCNCA. Barclays increased their price objective on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $2,100.00 target price (up previously from $1,900.00) on shares of First Citizens BancShares in a report on Friday, April 26th. DA Davidson reiterated a “neutral” rating and set a $1,650.00 price objective (up previously from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Finally, Piper Sandler downgraded shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and raised their target price for the company from $1,850.00 to $1,950.00 in a research report on Friday, April 26th.

Read Our Latest Report on First Citizens BancShares

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $1,766.24, for a total transaction of $1,766,240.00. Following the completion of the transaction, the director now directly owns 2,335 shares in the company, valued at $4,124,170.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other First Citizens BancShares news, Director Ellen R. Alemany sold 516 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $1,750.00, for a total value of $903,000.00. Following the transaction, the director now owns 819 shares of the company’s stock, valued at $1,433,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $1,766.24, for a total transaction of $1,766,240.00. Following the completion of the transaction, the director now directly owns 2,335 shares in the company, valued at approximately $4,124,170.40. The disclosure for this sale can be found here. Insiders sold a total of 3,600 shares of company stock worth $6,209,022 in the last three months. Company insiders own 13.40% of the company’s stock.

Institutional Trading of First Citizens BancShares

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of First Citizens BancShares by 4.6% during the first quarter. Vanguard Group Inc. now owns 1,064,822 shares of the bank’s stock worth $1,740,984,000 after purchasing an additional 47,167 shares in the last quarter. JPMorgan Chase & Co. increased its stake in First Citizens BancShares by 5.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 262,267 shares of the bank’s stock valued at $361,956,000 after buying an additional 13,658 shares during the period. Wellington Management Group LLP increased its stake in First Citizens BancShares by 21.1% in the 4th quarter. Wellington Management Group LLP now owns 239,563 shares of the bank’s stock valued at $339,933,000 after buying an additional 41,793 shares during the period. FMR LLC boosted its position in shares of First Citizens BancShares by 17.2% during the 3rd quarter. FMR LLC now owns 189,186 shares of the bank’s stock worth $261,095,000 after purchasing an additional 27,729 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of First Citizens BancShares by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 186,822 shares of the bank’s stock worth $265,120,000 after buying an additional 534 shares in the last quarter. Institutional investors and hedge funds own 61.18% of the company’s stock.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,688.80 on Wednesday. The stock has a market cap of $24.54 billion, a PE ratio of 9.38 and a beta of 0.84. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.10. First Citizens BancShares has a fifty-two week low of $1,181.71 and a fifty-two week high of $1,810.03. The firm’s 50-day simple moving average is $1,680.64 and its two-hundred day simple moving average is $1,553.37.

First Citizens BancShares (NASDAQ:FCNCAGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $52.92 earnings per share for the quarter, beating analysts’ consensus estimates of $44.27 by $8.65. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.30 billion. First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.48%. Analysts anticipate that First Citizens BancShares will post 188.62 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 0.39%. The ex-dividend date is Friday, May 31st. First Citizens BancShares’s payout ratio is 3.64%.

First Citizens BancShares Company Profile

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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.

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Analyst Recommendations for First Citizens BancShares (NASDAQ:FCNCA)

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