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

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have been assigned an average rating of “Hold” from the fourteen brokerages that are covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $2,278.3077.

Several brokerages recently issued reports on FCNCA. Truist Financial lifted their price objective on First Citizens BancShares from $2,150.00 to $2,323.00 and gave the stock a “hold” rating in a research report on Tuesday, July 28th. Barclays increased their target price on First Citizens BancShares from $2,346.00 to $2,376.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Citigroup reissued a “neutral” rating on shares of First Citizens BancShares in a research report on Friday, July 24th. Jefferies Financial Group reissued a “hold” rating and issued a $2,300.00 price target on shares of First Citizens BancShares in a report on Thursday, July 23rd. Finally, Piper Sandler increased their price objective on First Citizens BancShares from $2,050.00 to $2,100.00 and gave the company a “neutral” rating in a research note on Monday, July 27th.

Insider Activity at First Citizens BancShares

In other news, Director Diane Morais acquired 50 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average price of $2,168.11 per share, with a total value of $108,405.50. Following the completion of the transaction, the director directly owned 100 shares in the company, valued at approximately $216,811. This represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Citizens BancShares

Several hedge funds have recently made changes to their positions in the business. National Pension Service grew its position in shares of First Citizens BancShares by 28.4% in the second quarter. National Pension Service now owns 683 shares of the bank’s stock valued at $1,421,000 after purchasing an additional 151 shares during the period. WINTON GROUP Ltd purchased a new position in First Citizens BancShares during the second quarter worth about $229,000. Integrated Wealth Concepts LLC acquired a new stake in First Citizens BancShares in the 2nd quarter worth about $31,000. Community Bank N.A. boosted its stake in First Citizens BancShares by 90.3% in the 2nd quarter. Community Bank N.A. now owns 59 shares of the bank’s stock worth $123,000 after buying an additional 28 shares during the last quarter. Finally, Nykredit A S purchased a new stake in First Citizens BancShares in the 2nd quarter valued at about $3,204,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,165.43 on Tuesday. First Citizens BancShares has a 52 week low of $1,623.76 and a 52 week high of $2,296.30. 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’s 50-day simple moving average is $2,166.63 and its 200 day simple moving average is $2,040.47. The firm has a market capitalization of $24.45 billion, a PE ratio of 11.58, a P/E/G ratio of 1.61 and a beta of 0.60.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share for the quarter, beating the consensus estimate of $0.41 by $56.68. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.16 billion. First Citizens BancShares had a net margin of 16.28% and a return on equity of 12.07%. On average, equities research analysts predict that First Citizens BancShares will post 192.11 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, August 31st. First Citizens BancShares’s dividend payout ratio (DPR) 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.