First Citizens BancShares, Inc. (NASDAQ:FCNCA) Announces Quarterly Dividend of $2.10

First Citizens BancShares, Inc. (NASDAQ:FCNCA) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Monday, August 31st will be given a dividend of 2.10 per share by the bank on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 31st.

First Citizens BancShares has increased its dividend by an average of 0.4%per year over the last three years and has increased its dividend every year for the last 8 years. First Citizens BancShares has a dividend payout ratio of 4.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Citizens BancShares to earn $202.02 per share next year, which means the company should continue to be able to cover its $8.40 annual dividend with an expected future payout ratio of 4.2%.

First Citizens BancShares Price Performance

FCNCA stock traded up $135.20 during trading on Thursday, hitting $2,212.77. The stock had a trading volume of 204,569 shares, compared to its average volume of 91,320. The stock has a market cap of $25.65 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.56 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. The company’s 50 day moving average price is $2,053.95 and its two-hundred day moving average price is $2,016.98. First Citizens BancShares has a 1-year low of $1,623.76 and a 1-year high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $57.09 EPS for the quarter, topping analysts’ consensus estimates of $40.69 by $16.40. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.16 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. On average, sell-side analysts forecast that First Citizens BancShares will post 177.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings upgraded First Citizens BancShares from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. The Goldman Sachs Group lifted their price target on First Citizens BancShares from $2,100.00 to $2,340.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,300.00 price objective on shares of First Citizens BancShares in a research note on Thursday. Finally, Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2,251.15.

First Citizens BancShares Company Profile

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.