Recent Analysts’ Ratings Updates for First Citizens BancShares (FCNCA)

A number of research firms have changed their ratings and price targets for First Citizens BancShares (NASDAQ: FCNCA):

• 12/17/2024 – First Citizens BancShares was downgraded by analysts at Citigroup Inc. from a “strong-buy” rating to a “hold” rating.
• 12/17/2024 – First Citizens BancShares is now covered by analysts at UBS Group AG. They set a “buy” rating and a $2,700.00 price target on the stock.
• 12/9/2024 – First Citizens BancShares was upgraded by analysts at Citigroup Inc. from a “hold” rating to a “strong-buy” rating.
• 12/9/2024 – First Citizens BancShares is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “buy” rating and a $2,600.00 price target on the stock.
• 12/4/2024 – First Citizens BancShares was downgraded by analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating. They now have a $2,500.00 price target on the stock, up previously from $2,100.00.
• 11/26/2024 – First Citizens BancShares had its price target raised by analysts at The Goldman Sachs Group, Inc. from $2,025.00 to $2,625.00. They now have a “buy” rating on the stock.
• 11/14/2024 – First Citizens BancShares was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/5/2024 – First Citizens BancShares was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/28/2024 – First Citizens BancShares was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA traded up $0.16 during mid-day trading on Thursday, hitting $2,153.14. 43,789 shares of the stock were exchanged, compared to its average volume of 87,640. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50-day simple moving average is $2,131.70 and its 200 day simple moving average is $1,962.74. First Citizens BancShares, Inc. has a fifty-two week low of $1,363.97 and a fifty-two week high of $2,388.78. The stock has a market capitalization of $30.12 billion, a price-to-earnings ratio of 12.34 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same quarter last year, the firm earned $55.92 EPS. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

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

Hedge Funds Weigh In On First Citizens BancShares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HB Wealth Management LLC grew its holdings in shares of First Citizens BancShares by 3.9% during the second quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock worth $315,000 after purchasing an additional 7 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Citizens BancShares by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,039 shares of the bank’s stock valued at $3,433,000 after acquiring an additional 156 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of First Citizens BancShares by 84.9% during the second quarter. Principal Financial Group Inc. now owns 1,751 shares of the bank’s stock worth $2,948,000 after purchasing an additional 804 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of First Citizens BancShares by 145.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 398 shares of the bank’s stock worth $670,000 after purchasing an additional 236 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of First Citizens BancShares by 14.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,003 shares of the bank’s stock worth $1,689,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

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.