First Citizens BancShares (FCNCA) Scheduled to Post Quarterly Earnings on Thursday

First Citizens BancShares (NASDAQ:FCNCA) is scheduled to be announcing its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $43.51 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 26th. The bank reported $46.58 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 firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. On average, analysts expect First Citizens BancShares to post $179 EPS for the current fiscal year and $195 EPS for the next fiscal year.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $1,550.00 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s fifty day moving average price is $1,561.43 and its two-hundred day moving average price is $1,465.85. First Citizens BancShares has a one year low of $945.32 and a one year high of $1,651.73. The firm has a market cap of $22.51 billion, a price-to-earnings ratio of 1.98 and a beta of 0.89.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 0.84%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FCNCA. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. DA Davidson restated a “neutral” rating and set a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a research report on Monday. Barclays initiated coverage on First Citizens BancShares in a research report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 price objective for the company. UBS Group increased their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, The Goldman Sachs Group initiated coverage on First Citizens BancShares in a research report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $1,768.63.

Insider Activity

In related news, CEO Frank B. Holding, Jr. purchased 622 shares of the firm’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, for a total transaction of $817,930.00. Following the completion of the acquisition, the chief executive officer now owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Frank B. Holding, Jr. purchased 622 shares of the firm’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, for a total transaction of $817,930.00. Following the completion of the acquisition, the chief executive officer now owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Olivia Britton Holding acquired 466 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, for a total transaction of $612,790.00. Following the transaction, the insider now owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Insiders bought a total of 1,388 shares of company stock worth $1,825,220 over the last quarter. 12.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. purchased a new position in shares of First Citizens BancShares during the 1st quarter valued at $207,000. MetLife Investment Management LLC purchased a new position in shares of First Citizens BancShares during the 1st quarter valued at $162,000. Point72 Hong Kong Ltd purchased a new stake in First Citizens BancShares during the 4th quarter worth about $142,000. Ossiam lifted its holdings in First Citizens BancShares by 54.5% during the 1st quarter. Ossiam now owns 136 shares of the bank’s stock worth $132,000 after purchasing an additional 48 shares in the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in First Citizens BancShares during the 2nd quarter worth about $128,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

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.