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

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $2,215.9091.

A number of brokerages recently commented on FCNCA. TD Cowen dropped their price objective on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Keefe, Bruyette & Woods dropped their price objective on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. UBS Group set a $2,325.00 price objective on shares of First Citizens BancShares in a report on Wednesday, February 4th. Finally, Weiss Ratings lowered shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. sold 5,346 shares of First Citizens BancShares stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $1,918.69, for a total value of $10,257,316.74. Following the sale, the chief executive officer directly owned 100,654 shares in the company, valued at approximately $193,123,823.26. The trade was a 5.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have acquired 6,198 shares of company stock valued at $10,661,547. 14.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in First Citizens BancShares by 4.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock valued at $778,785,000 after buying an additional 18,190 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in First Citizens BancShares by 117,518.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after buying an additional 205,658 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in First Citizens BancShares by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 125,947 shares of the bank’s stock valued at $237,333,000 after buying an additional 1,886 shares during the last quarter. Morgan Stanley increased its stake in First Citizens BancShares by 31.8% in the 4th quarter. Morgan Stanley now owns 123,048 shares of the bank’s stock valued at $264,087,000 after buying an additional 29,681 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in First Citizens BancShares by 11.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,317 shares of the bank’s stock valued at $262,514,000 after buying an additional 12,303 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Trading Down 0.9%

Shares of NASDAQ:FCNCA opened at $1,990.51 on Friday. First Citizens BancShares has a 12 month low of $1,623.76 and a 12 month high of $2,232.21. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. The company’s fifty day simple moving average is $1,949.40 and its 200 day simple moving average is $1,992.23. The firm has a market cap of $23.07 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.52 and a beta of 0.63.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business posted $37.79 earnings per share. As a group, research analysts forecast that First Citizens BancShares will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, May 29th. First Citizens BancShares’s payout ratio is presently 4.83%.

About First Citizens BancShares

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.