First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,600.00

First Citizens BancShares (NASDAQ:FCNCA) had its price target increased by Keefe, Bruyette & Woods from $2,500.00 to $2,600.00 in a report issued on Monday,Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

Several other brokerages have also weighed in on FCNCA. Truist Financial assumed coverage on shares of First Citizens BancShares in a report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 price objective for the company. The Goldman Sachs Group boosted their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. UBS Group began coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2,323.50.

First Citizens BancShares Trading Up 1.0 %

Shares of FCNCA stock opened at $2,199.94 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares has a fifty-two week low of $1,438.08 and a fifty-two week high of $2,412.93. The firm’s 50 day moving average price is $2,169.22 and its two-hundred day moving average price is $2,045.22. The stock has a market cap of $30.77 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. On average, analysts anticipate that First Citizens BancShares will post 187.95 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.35%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FCNCA. Financial Life Planners acquired a new stake in First Citizens BancShares in the fourth quarter worth approximately $33,000. Hemington Wealth Management raised its stake in shares of First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after buying an additional 6 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after buying an additional 5 shares during the period. Brooklyn Investment Group acquired a new position in First Citizens BancShares during the third quarter worth about $39,000. Finally, GAMMA Investing LLC grew its holdings in First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after acquiring an additional 35 shares during the period. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Company Profile

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.