First Citizens BancShares (NASDAQ:FCNCA) Issues Quarterly Earnings Results

First Citizens BancShares (NASDAQ:FCNCA) announced its quarterly earnings data on Friday. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78, Zacks reports. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%.

First Citizens BancShares Trading Up 4.0 %

NASDAQ:FCNCA opened at $2,304.93 on Friday. The stock’s 50 day moving average price is $2,169.63 and its 200 day moving average price is $2,028.74. First Citizens BancShares has a 52-week low of $1,383.00 and a 52-week high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $32.25 billion, a PE ratio of 13.25, a P/E/G ratio of 1.03 and a beta of 0.86.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.34%. First Citizens BancShares’s payout ratio is currently 4.47%.

Analysts Set New Price Targets

FCNCA has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday. Wedbush dropped their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, Truist Financial initiated coverage on First Citizens BancShares in a report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2,290.75.

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.