Brokerages Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) PT at $2,278.31

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have earned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $2,278.3077.

Several equities research analysts have issued reports on FCNCA shares. Truist Financial boosted their price objective on shares of First Citizens BancShares from $2,150.00 to $2,323.00 and gave the stock a “hold” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group raised their target price on shares of First Citizens BancShares from $2,100.00 to $2,340.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Piper Sandler lifted their target price on shares of First Citizens BancShares from $2,050.00 to $2,100.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Fundamental Research set a $2,350.00 price target on shares of First Citizens BancShares in a research report on Wednesday, July 1st. Finally, Wall Street Zen upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, June 27th.

Insider Buying and Selling at First Citizens BancShares

In related news, Director Diane Morais bought 50 shares of the stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average price of $2,168.11 per share, for a total transaction of $108,405.50. Following the completion of the purchase, the director owned 100 shares in the company, valued at $216,811. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.63% of the stock is owned by insiders.

Hedge Funds Weigh In On First Citizens BancShares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in shares of First Citizens BancShares by 1.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after purchasing an additional 681 shares during the period. Empowered Funds LLC grew its holdings in First Citizens BancShares by 71.9% during the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after purchasing an additional 164 shares in the last quarter. Focus Partners Wealth grew its holdings in First Citizens BancShares by 5.2% during the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after purchasing an additional 12 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in First Citizens BancShares by 31.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 88 shares of the bank’s stock worth $172,000 after buying an additional 21 shares during the period. Finally, Flow Traders U.S. LLC purchased a new stake in First Citizens BancShares during the 2nd quarter worth $260,000. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Up 0.3%

Shares of NASDAQ FCNCA opened at $2,173.00 on Tuesday. The stock has a market capitalization of $24.53 billion, a PE ratio of 11.62, a P/E/G ratio of 1.64 and a beta of 0.60. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.59. The firm has a fifty day moving average of $2,168.43 and a 200-day moving average of $2,041.40. First Citizens BancShares has a 52-week low of $1,623.76 and a 52-week high of $2,296.30.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $57.09 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $56.68. First Citizens BancShares had a return on equity of 12.07% and a net margin of 16.28%.The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.16 billion. On average, analysts anticipate that First Citizens BancShares will post 192.11 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, August 31st. First Citizens BancShares’s payout ratio is currently 4.49%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the financial holding company for First-Citizens Bank & Trust Company, which operates under the First Citizens Bank name. Headquartered in Raleigh, North Carolina, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit cards, cash-management and treasury services, investment services, and wealth management.