First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives Consensus Rating of “Moderate Buy” from Analysts

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $1,768.63.

FCNCA has been the topic of a number of analyst reports. UBS Group lifted their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. DA Davidson reissued a “neutral” rating and issued a $1,650.00 price objective (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday. Barclays began coverage on First Citizens BancShares in a research report on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 price objective for the company. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group began coverage on First Citizens BancShares in a research report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective for the company.

Insider Buying and Selling at First Citizens BancShares

In related news, major shareholder Olivia Britton Holding acquired 466 shares of First Citizens BancShares stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the purchase, 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 SEC, which is accessible through this hyperlink. In related news, major shareholder Olivia Britton Holding acquired 466 shares of First Citizens BancShares stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the purchase, 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 SEC, which is accessible through this hyperlink. Also, CEO Frank B. Holding, Jr. purchased 622 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the purchase, 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 quarter, insiders purchased 1,388 shares of company stock worth $1,825,220. Insiders own 12.85% of the company’s stock.

Hedge Funds Weigh In On First Citizens BancShares

Several institutional investors and hedge funds have recently modified their holdings of FCNCA. Vanguard Group Inc. increased its stake in First Citizens BancShares by 106.0% during the 1st quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank’s stock worth $735,855,000 after buying an additional 568,929 shares in the last quarter. Wellington Management Group LLP increased its stake in First Citizens BancShares by 30.9% during the 1st quarter. Wellington Management Group LLP now owns 594,276 shares of the bank’s stock worth $395,550,000 after buying an additional 140,410 shares in the last quarter. State Street Corp increased its stake in First Citizens BancShares by 53.7% during the 1st quarter. State Street Corp now owns 402,593 shares of the bank’s stock worth $267,966,000 after buying an additional 140,626 shares in the last quarter. Invesco Ltd. increased its stake in First Citizens BancShares by 113.0% during the 1st quarter. Invesco Ltd. now owns 371,016 shares of the bank’s stock worth $246,949,000 after buying an additional 196,851 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in First Citizens BancShares by 88.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 268,916 shares of the bank’s stock worth $179,001,000 after buying an additional 126,483 shares in the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Trading Down 2.0 %

Shares of NASDAQ:FCNCA opened at $1,537.60 on Tuesday. First Citizens BancShares has a 12-month low of $945.32 and a 12-month high of $1,651.73. The business’s fifty day simple moving average is $1,559.12 and its 200-day simple moving average is $1,464.18. The company has a market capitalization of $22.33 billion, a PE ratio of 1.96 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 (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) 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 company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. As a group, equities research analysts predict that First Citizens BancShares will post 178.72 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $1.64 per share. The ex-dividend date was Wednesday, February 28th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.43%. First Citizens BancShares’s payout ratio is currently 0.84%.

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.