First Citizens BancShares (NASDAQ:FCNCA) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of First Citizens BancShares (NASDAQ:FCNCA) from a sell rating to a hold rating in a research note issued to investors on Monday.

A number of other equities analysts also recently commented on the stock. UBS Group boosted their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a buy rating in a research note on Tuesday, January 30th. Barclays boosted their target price on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an equal weight rating in a research note on Friday. DA Davidson reiterated a neutral rating and set a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Keefe, Bruyette & Woods reiterated an outperform rating and set a $2,100.00 target price (up previously from $1,900.00) on shares of First Citizens BancShares in a research note on Friday. Finally, Wedbush reiterated an outperform rating and set a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $1,829.90.

First Citizens BancShares Stock Down 2.7 %

Shares of NASDAQ FCNCA opened at $1,707.48 on Monday. The business’s 50 day moving average is $1,586.73 and its two-hundred day moving average is $1,484.07. The firm has a market cap of $24.79 billion, a price-to-earnings ratio of 9.48 and a beta of 0.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. First Citizens BancShares has a 52-week low of $945.32 and a 52-week high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a return on equity of 15.75% and a net margin of 18.22%. Research analysts predict that First Citizens BancShares will post 179.92 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $1.64 per share. The ex-dividend date is Thursday, May 30th. This represents a $6.56 annualized dividend and a yield of 0.38%. First Citizens BancShares’s dividend payout ratio is currently 3.64%.

Insider Buying and Selling

In related news, Director Ellen R. Alemany sold 600 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Olivia Britton Holding bought 466 shares of the stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the transaction, the insider now owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ellen R. Alemany sold 600 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the transaction, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The disclosure for this sale can be found here. Insiders bought 1,388 shares of company stock valued at $1,825,220 over the last ninety days. Corporate insiders own 12.85% of the company’s stock.

Institutional Trading of First Citizens BancShares

Large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in First Citizens BancShares in the 4th quarter worth approximately $180,039,000. Wellington Management Group LLP boosted its holdings in shares of First Citizens BancShares by 21.1% in the 4th quarter. Wellington Management Group LLP now owns 239,563 shares of the bank’s stock valued at $339,933,000 after purchasing an additional 41,793 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of First Citizens BancShares by 756.8% in the 3rd quarter. AQR Capital Management LLC now owns 38,436 shares of the bank’s stock valued at $53,046,000 after purchasing an additional 33,950 shares during the last quarter. FMR LLC boosted its holdings in shares of First Citizens BancShares by 17.2% in the 3rd quarter. FMR LLC now owns 189,186 shares of the bank’s stock valued at $261,095,000 after purchasing an additional 27,729 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of First Citizens BancShares by 130.1% in the 4th quarter. Point72 Asset Management L.P. now owns 46,180 shares of the bank’s stock valued at $65,528,000 after purchasing an additional 26,107 shares during the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

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.