First Citizens BancShares, Inc. (NASDAQ:FCNCA) Plans Quarterly Dividend of $1.95

First Citizens BancShares, Inc. (NASDAQ:FCNCA) announced a quarterly dividend on Friday, January 24th,RTT News reports. Stockholders of record on Friday, February 28th will be given a dividend of 1.95 per share by the bank on Monday, March 17th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.35%.

First Citizens BancShares has raised its dividend by an average of 54.0% annually over the last three years. First Citizens BancShares has a payout ratio of 4.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Citizens BancShares to earn $161.34 per share next year, which means the company should continue to be able to cover its $7.80 annual dividend with an expected future payout ratio of 4.8%.

First Citizens BancShares Trading Up 0.4 %

Shares of NASDAQ:FCNCA opened at $2,225.00 on Friday. The firm has a market capitalization of $31.13 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. The business’s 50 day moving average price is $2,171.41 and its 200-day moving average price is $2,033.79. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares has a 1 year low of $1,383.00 and a 1 year high of $2,412.93.

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 the consensus estimate 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, equities research analysts forecast that First Citizens BancShares will post 187.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on FCNCA shares. Truist Financial started coverage on First Citizens BancShares in a research report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 target price on the stock. Keefe, Bruyette & Woods upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 price objective on the stock in a research note on Tuesday, January 14th. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush cut their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2,290.75.

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.