First Citizens BancShares, Inc. (NASDAQ:FCNCA) Given Consensus Rating of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCAGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $2,238.2727.

Several research analysts have commented on the company. Barclays cut their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a report on Monday, January 26th. Truist Financial increased their price target on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a research note on Monday, January 26th. UBS Group set a $2,325.00 price objective on First Citizens BancShares in a research report on Wednesday, February 4th. TD Cowen cut their price objective on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Finally, Zacks Research cut First Citizens BancShares from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th.

Get Our Latest Stock Analysis on First Citizens BancShares

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 92 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $1,550.00 per share, for a total transaction of $142,600.00. Following the completion of the transaction, the chief executive officer directly owned 2,841 shares in the company, valued at $4,403,550. This represents a 3.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 258 shares of company stock worth $404,236 in the last ninety days. Corporate insiders own 13.40% of the company’s stock.

Institutional Trading of First Citizens BancShares

A number of institutional investors have recently bought and sold shares of the company. Citigroup Inc. boosted its stake in First Citizens BancShares by 23.4% during the 3rd quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock valued at $30,305,000 after purchasing an additional 3,215 shares during the last quarter. Founders Financial Alliance LLC raised its stake in shares of First Citizens BancShares by 484.7% in the third quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank’s stock worth $2,742,000 after purchasing an additional 1,270 shares during the last quarter. AlphaQuest LLC raised its stake in shares of First Citizens BancShares by 577.7% in the third quarter. AlphaQuest LLC now owns 759 shares of the bank’s stock worth $1,358,000 after purchasing an additional 647 shares during the last quarter. AdvisorShares Investments LLC bought a new position in shares of First Citizens BancShares in the third quarter valued at approximately $415,000. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of First Citizens BancShares by 8.9% in the third quarter. Thrivent Financial for Lutherans now owns 43,787 shares of the bank’s stock valued at $78,341,000 after purchasing an additional 3,587 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

FCNCA stock opened at $1,822.39 on Tuesday. The company has a fifty day moving average price of $2,009.76 and a 200-day moving average price of $1,946.77. The company has a market capitalization of $21.76 billion, a P/E ratio of 11.00 and a beta of 0.68. First Citizens BancShares has a 52-week low of $1,473.62 and a 52-week high of $2,232.21. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.03 and a current ratio of 1.03.

First Citizens BancShares (NASDAQ:FCNCAGet Free Report) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping the consensus estimate of $44.24 by $7.03. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. As a group, equities analysts expect that First Citizens BancShares will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, February 27th. First Citizens BancShares’s dividend payout ratio is currently 5.07%.

First Citizens BancShares Company Profile

(Get Free Report)

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.

Featured Articles