First Citizens BancShares (NASDAQ:FCNCA) Upgraded at StockNews.com

StockNews.com upgraded shares of First Citizens BancShares (NASDAQ:FCNCA) from a sell rating to a hold rating in a report published on Thursday morning.

Several other equities research analysts also recently weighed in on the stock. Truist Financial started coverage on shares of First Citizens BancShares in a research note on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price on the stock. The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock 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 research report on Tuesday, December 17th. UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target for the company. Finally, Wedbush reduced their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,290.75.

First Citizens BancShares Stock Up 1.5 %

Shares of NASDAQ FCNCA opened at $2,188.94 on Thursday. First Citizens BancShares has a 52-week low of $1,371.77 and a 52-week high of $2,388.78. The business’s 50 day moving average is $2,167.50 and its two-hundred day moving average is $2,018.15. The firm has a market cap of $30.62 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.96 and a beta of 0.86. 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 (NASDAQ:FCNCA) last announced its earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter last year, the business earned $55.92 earnings per share. Research analysts predict that First Citizens BancShares will post 186.98 EPS for the current year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $1.95 dividend. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, November 29th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

Hedge Funds Weigh In On First Citizens BancShares

A number of large investors have recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in First Citizens BancShares in the third quarter valued at about $39,000. GAMMA Investing LLC lifted its holdings in First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after acquiring an additional 35 shares during the period. Quarry LP acquired a new position in shares of First Citizens BancShares during the 2nd quarter worth $126,000. Private Trust Co. NA increased its holdings in shares of First Citizens BancShares by 2,100.0% in the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after purchasing an additional 84 shares in the last quarter. Finally, UMB Bank n.a. acquired a new stake in shares of First Citizens BancShares in the third quarter valued at about $177,000. Hedge funds and other 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.