First Citizens BancShares (FCNCA) to Release Quarterly Earnings on Thursday

First Citizens BancShares (NASDAQ:FCNCA) will likely be posting its results before the market opens on Thursday, April 23rd. Analysts expect First Citizens BancShares to post earnings of $43.31 per share and revenue of $2.1972 billion for the quarter.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%.The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.24 billion. On average, analysts expect First Citizens BancShares to post $179 EPS for the current fiscal year and $204 EPS for the next fiscal year.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $2,061.48 on Tuesday. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $24.61 billion, a PE ratio of 12.44, a P/E/G ratio of 1.51 and a beta of 0.65. First Citizens BancShares has a 1-year low of $1,623.76 and a 1-year high of $2,232.21. The business’s fifty day moving average price is $1,935.82 and its two-hundred day moving average price is $1,954.46.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $2,200.00 target price (down from $2,450.00) on shares of First Citizens BancShares in a research report on Wednesday, April 1st. Truist Financial boosted their price objective on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. TD Cowen raised First Citizens BancShares to a “strong-buy” rating in a report on Monday, April 13th. Wall Street Zen upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Piper Sandler lifted their target price on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,227.08.

Insider Activity at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 134 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $1,550.00 per share, for a total transaction of $207,700.00. Following the completion of the purchase, the chief executive officer directly owned 2,749 shares of the company’s stock, valued at $4,260,950. The trade was a 5.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 258 shares of company stock worth $404,236 in the last quarter. 14.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Citizens BancShares

Several hedge funds have recently modified their holdings of the company. Orion Porfolio Solutions LLC boosted its stake in First Citizens BancShares by 2,057.4% during the second quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after buying an additional 45,304 shares in the last quarter. Dodge & Cox acquired a new stake in First Citizens BancShares during the fourth quarter valued at approximately $67,746,000. Morgan Stanley lifted its stake in First Citizens BancShares by 31.8% during the fourth quarter. Morgan Stanley now owns 123,048 shares of the bank’s stock valued at $264,087,000 after purchasing an additional 29,681 shares during the last quarter. Marshall Wace LLP boosted its holdings in First Citizens BancShares by 824.0% during the third quarter. Marshall Wace LLP now owns 29,310 shares of the bank’s stock worth $52,440,000 after buying an additional 26,138 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in First Citizens BancShares by 252.4% in the third quarter. Qube Research & Technologies Ltd now owns 33,234 shares of the bank’s stock worth $59,461,000 after buying an additional 23,804 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

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.