First Citizens BancShares, Inc. (NASDAQ:FCNCA) Given Average Rating of “Hold” by Brokerages

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

Several equities analysts have recently issued reports on FCNCA shares. Weiss Ratings cut shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price on the stock. in a research report on Wednesday, April 8th. Citigroup reissued a “neutral” rating on shares of First Citizens BancShares in a research report on Friday, April 24th. Wall Street Zen downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Zacks Research raised shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,117.29 on Thursday. The firm’s 50 day moving average is $2,010.53 and its 200-day moving average is $2,019.63. The stock has a market capitalization of $24.54 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.63 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00. First Citizens BancShares has a 12-month low of $1,623.76 and a 12-month high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $43.31 by $1.55. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.20 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. During the same quarter in the previous year, the company posted $37.79 EPS. Equities research analysts anticipate that First Citizens BancShares will post 175.61 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, May 29th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.83%.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 5,940 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $1,726.82 per share, with a total value of $10,257,310.80. Following the completion of the transaction, the chief executive officer directly owned 38,111 shares in the company, valued at approximately $65,810,837.02. The trade was a 18.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 7,190 shares of company stock valued at $12,573,868 over the last quarter. Company insiders own 14.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FCNCA. Allworth Financial LP increased its stake in First Citizens BancShares by 21.7% during the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock worth $51,000 after purchasing an additional 5 shares in the last quarter. MBL Wealth LLC increased its stake in First Citizens BancShares by 0.8% during the 4th quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock worth $1,335,000 after purchasing an additional 5 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of First Citizens BancShares by 0.6% during the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock worth $2,051,000 after acquiring an additional 6 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of First Citizens BancShares by 40.0% during the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after acquiring an additional 6 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of First Citizens BancShares by 2.6% during the 1st quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock worth $439,000 after acquiring an additional 6 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

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.