Brokerages Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) Target Price at $2,323.50

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $2,323.50.

A number of analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. UBS Group assumed coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Piper Sandler lifted their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Barclays lifted their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a report on Monday, January 27th.

First Citizens BancShares Trading Up 1.6 %

Shares of First Citizens BancShares stock opened at $2,141.49 on Monday. The company’s fifty day simple moving average is $2,143.80 and its 200-day simple moving average is $2,066.14. The stock has a market capitalization of $29.96 billion, a PE ratio of 11.30, a P/E/G ratio of 1.00 and a beta of 0.85. First Citizens BancShares has a 1-year low of $1,475.85 and a 1-year high of $2,412.93. 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 (NASDAQ:FCNCA) last released its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, equities analysts anticipate that First Citizens BancShares will post 165.15 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.36%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of First Citizens BancShares by 35.7% in the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock worth $828,510,000 after purchasing an additional 103,137 shares during the period. FMR LLC raised its stake in shares of First Citizens BancShares by 10.5% during the 4th quarter. FMR LLC now owns 357,629 shares of the bank’s stock worth $755,677,000 after acquiring an additional 34,097 shares in the last quarter. Capital International Investors raised its stake in shares of First Citizens BancShares by 78.2% during the 4th quarter. Capital International Investors now owns 172,723 shares of the bank’s stock worth $364,967,000 after acquiring an additional 75,785 shares in the last quarter. Norges Bank bought a new position in shares of First Citizens BancShares during the 4th quarter worth approximately $298,426,000. Finally, Northern Trust Corp raised its stake in shares of First Citizens BancShares by 16.9% during the 4th quarter. Northern Trust Corp now owns 76,739 shares of the bank’s stock worth $162,151,000 after acquiring an additional 11,122 shares in the last quarter. Hedge funds and other institutional investors 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.