Brokerages Set First Citizens BancShares, Inc. (NASDAQ:FCNCA) Target Price at $2,323.50

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has received an average rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $2,323.50.

Several equities analysts recently weighed in on FCNCA shares. Barclays increased their price objective on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Wedbush dropped their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Piper Sandler raised their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, The Goldman Sachs Group boosted their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th.

First Citizens BancShares Stock Up 1.6 %

NASDAQ FCNCA opened at $2,141.49 on Monday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares has a 52 week low of $1,475.85 and a 52 week high of $2,412.93. The stock has a market capitalization of $29.96 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. The stock has a fifty day moving average of $2,143.80 and a 200-day moving average of $2,065.55.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, equities research analysts forecast that First Citizens BancShares will post 165.15 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio is 4.12%.

Hedge Funds Weigh In On First Citizens BancShares

Large investors have recently added to or reduced their stakes in the company. Blue Rock Wealth Management LLC acquired a new position in First Citizens BancShares during the 4th quarter worth approximately $211,000. Keel Point LLC boosted its holdings in First Citizens BancShares by 25.0% during the fourth quarter. Keel Point LLC now owns 160 shares of the bank’s stock worth $338,000 after purchasing an additional 32 shares during the last quarter. Freestone Grove Partners LP bought a new position in First Citizens BancShares in the fourth quarter valued at $16,921,000. Utah Retirement Systems increased its stake in First Citizens BancShares by 0.6% in the 4th quarter. Utah Retirement Systems now owns 2,005 shares of the bank’s stock valued at $4,237,000 after buying an additional 11 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in First Citizens BancShares by 124.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 3,149 shares of the bank’s stock worth $6,654,000 after buying an additional 1,746 shares in the last quarter. 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.