First Citizens BancShares (NASDAQ:FCNCA) Stock Price Expected to Rise, Truist Financial Analyst Says

First Citizens BancShares (NASDAQ:FCNCA) had its target price increased by Truist Financial from $2,303.00 to $2,384.00 in a report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the bank’s stock.

Several other equities research analysts have also recently commented on FCNCA. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. UBS Group initiated coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. Barclays raised their price objective on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Finally, Piper Sandler increased their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Stock Down 0.6 %

NASDAQ FCNCA opened at $2,204.69 on Wednesday. First Citizens BancShares has a one year low of $1,438.08 and a one year high of $2,412.93. 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 business has a fifty day moving average price of $2,164.29 and a 200 day moving average price of $2,049.40. The company has a market cap of $30.84 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.00 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last posted 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 18.55% and a return on equity of 13.22%. Research analysts anticipate that First Citizens BancShares will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business 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 0.35%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Institutional Trading of First Citizens BancShares

A number of hedge funds and other institutional investors have recently made changes to their positions in FCNCA. The Manufacturers Life Insurance Company boosted its stake in First Citizens BancShares by 22.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,682 shares of the bank’s stock worth $9,566,000 after purchasing an additional 1,050 shares during the period. Creative Planning grew its holdings in shares of First Citizens BancShares by 4.5% during the second quarter. Creative Planning now owns 1,089 shares of the bank’s stock worth $1,834,000 after buying an additional 47 shares during the last quarter. Quarry LP acquired a new position in First Citizens BancShares in the 2nd quarter valued at about $126,000. Sanctuary Advisors LLC purchased a new stake in First Citizens BancShares during the 2nd quarter valued at approximately $6,934,000. Finally, American Trust lifted its position in First Citizens BancShares by 91.1% during the 2nd quarter. American Trust now owns 279 shares of the bank’s stock worth $470,000 after acquiring an additional 133 shares during the period. Institutional investors and hedge funds 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.