First Citizens BancShares, Inc. (NASDAQ:FCNCA) Given Average Recommendation of “Moderate Buy” by Brokerages

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $2,288.08.

FCNCA has been the topic of a number of recent analyst reports. Barclays upped their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Piper Sandler upgraded shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a research report on Tuesday, March 11th. Finally, The Goldman Sachs Group reduced their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th.

First Citizens BancShares Stock Down 3.7 %

NASDAQ FCNCA opened at $1,571.21 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The business’s fifty day simple moving average is $1,978.80 and its 200-day simple moving average is $2,050.23. The firm has a market cap of $21.33 billion, a PE ratio of 8.29, a P/E/G ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, equities analysts anticipate that First Citizens BancShares will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.50%. First Citizens BancShares’s payout ratio is 4.12%.

Insiders Place Their Bets

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB lifted its position in First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank’s stock valued at $32,000 after acquiring an additional 6 shares during the last quarter. Financial Life Planners purchased a new stake in shares of First Citizens BancShares in the 4th quarter valued at about $33,000. Hemington Wealth Management lifted its holdings in shares of First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in First Citizens BancShares during the fourth quarter worth approximately $36,000. Finally, Mather Group LLC. lifted its stake in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after buying an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

About First Citizens BancShares

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.