Brokerages Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) PT at $2,243.64

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $2,243.64.

Several equities research analysts recently issued reports on FCNCA shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Keefe, Bruyette & Woods cut First Citizens BancShares from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Wedbush decreased their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective for the company.

First Citizens BancShares Trading Down 1.0 %

FCNCA opened at $2,132.44 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company’s 50 day simple moving average is $2,133.41 and its two-hundred day simple moving average is $1,967.26. The firm has a market capitalization of $29.83 billion, a price-to-earnings ratio of 12.22 and a beta of 0.83. First Citizens BancShares has a 1-year low of $1,363.97 and a 1-year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the firm posted $55.92 EPS. Analysts expect that First Citizens BancShares will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $1.95 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.37%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s payout ratio is 4.47%.

Institutional Trading of First Citizens BancShares

A number of large investors have recently modified their holdings of FCNCA. Brooklyn Investment Group acquired a new position in shares of First Citizens BancShares during the third quarter worth about $39,000. GAMMA Investing LLC increased its position in shares of First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after purchasing an additional 35 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of First Citizens BancShares by 17.7% in the 2nd quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock valued at $124,000 after purchasing an additional 11 shares in the last quarter. Quarry LP purchased a new stake in shares of First Citizens BancShares during the 2nd quarter worth $126,000. Finally, Private Trust Co. NA grew its stake in shares of First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

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.