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

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has been assigned a consensus rating of “Hold” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $2,247.0833.

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Piper Sandler set a $2,050.00 price target on shares of First Citizens BancShares in a research note on Friday, April 24th. TD Cowen cut their price target on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective for the company. in a research report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. lifted their price objective on First Citizens BancShares from $2,150.00 to $2,350.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,122.13 on Monday. First Citizens BancShares has a 1-year low of $1,623.76 and a 1-year high of $2,232.21. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $24.60 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.60 and a beta of 0.62. The firm has a fifty day moving average price of $2,044.42 and a 200 day moving average price of $2,018.58.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. The business had revenue of $2.14 billion during 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 period in the prior year, the company earned $37.79 earnings per share. Sell-side analysts predict that First Citizens BancShares will post 177.18 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, May 29th. First Citizens BancShares’s dividend payout ratio is currently 4.83%.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 528 shares of First Citizens BancShares stock in a transaction on Friday, June 5th. The stock was bought at an average price of $1,813.37 per share, with a total value of $957,459.36. Following the completion of the acquisition, the chief executive officer owned 64,100 shares in the company, valued at $116,237,017. The trade was a 0.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 7,190 shares of company stock valued at $12,573,868 over the last three months. 14.63% of the stock is currently owned by company insiders.

Institutional Trading of First Citizens BancShares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC acquired a new position in First Citizens BancShares during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC increased its holdings in First Citizens BancShares by 150.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock valued at $32,000 after buying an additional 9 shares in the last quarter. Reflection Asset Management acquired a new stake in shares of First Citizens BancShares during the 4th quarter valued at approximately $45,000. Global Assets Advisory LLC acquired a new stake in shares of First Citizens BancShares during the 1st quarter valued at approximately $45,000. Finally, Allworth Financial LP boosted its stake in shares of 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 acquiring an additional 5 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Company Profile

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.