First Citizens BancShares (NASDAQ:FCNCA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Citizens BancShares (NASDAQ:FCNCA) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research firms have also weighed in on FCNCA. Citigroup reiterated a “buy” rating on shares of First Citizens BancShares in a research note on Monday, January 26th. UBS Group set a $2,325.00 price target on First Citizens BancShares in a research report on Wednesday, February 4th. Piper Sandler raised their price target on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their price objective on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Barclays dropped their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,238.27.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,950.00 on Friday. The business’s fifty day moving average price is $2,098.08 and its 200 day moving average price is $1,957.04. First Citizens BancShares has a 12-month low of $1,473.62 and a 12-month high of $2,232.21. The stock has a market capitalization of $24.26 billion, a PE ratio of 11.77 and a beta of 0.68. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. Equities research analysts forecast that First Citizens BancShares will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 5.07%.

Institutional Trading of First Citizens BancShares

A number of large investors have recently bought and sold shares of the business. Reflection Asset Management acquired a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $45,000. Anchor Investment Management LLC lifted its position in First Citizens BancShares by 1.4% in the 4th quarter. Anchor Investment Management LLC now owns 13,215 shares of the bank’s stock valued at $28,362,000 after acquiring an additional 184 shares in the last quarter. MidFirst Bank acquired a new position in First Citizens BancShares in the 4th quarter worth $339,000. River Road Asset Management LLC boosted its stake in First Citizens BancShares by 574.0% in the 4th quarter. River Road Asset Management LLC now owns 55,402 shares of the bank’s stock worth $118,903,000 after purchasing an additional 47,182 shares during the period. Finally, Sunbelt Securities Inc. increased its holdings in First Citizens BancShares by 10.6% during the 4th quarter. Sunbelt Securities Inc. now owns 500 shares of the bank’s stock worth $1,073,000 after purchasing an additional 48 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

About First Citizens BancShares

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.