Barclays Increases First Citizens BancShares (NASDAQ:FCNCA) Price Target to $1,950.00

First Citizens BancShares (NASDAQ:FCNCA) had its price objective increased by Barclays from $1,850.00 to $1,950.00 in a research report report published on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the bank’s stock.

Several other research firms have also recently weighed in on FCNCA. StockNews.com cut First Citizens BancShares from a hold rating to a sell rating in a report on Wednesday, April 3rd. The Goldman Sachs Group began coverage on First Citizens BancShares in a report on Thursday, March 21st. They issued a buy rating and a $1,950.00 target price on the stock. Piper Sandler cut First Citizens BancShares from an overweight rating to a neutral rating and raised their target price for the stock from $1,850.00 to $1,950.00 in a report on Friday. UBS Group raised their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a buy rating in a report on Tuesday, January 30th. Finally, Wedbush reaffirmed an outperform rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $1,829.90.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $1,754.50 on Friday. The business’s fifty day moving average price is $1,582.88 and its 200-day moving average price is $1,480.23. The stock has a market capitalization of $25.48 billion, a price-to-earnings ratio of 9.74 and a beta of 0.89. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. First Citizens BancShares has a 1-year low of $945.32 and a 1-year high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing the consensus estimate of $48.49 by ($1.91). The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.75%. On average, equities analysts predict that First Citizens BancShares will post 179.92 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $1.64 per share. The ex-dividend date is Thursday, May 30th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.37%. First Citizens BancShares’s payout ratio is 3.64%.

Insider Activity

In related news, CEO Frank B. Holding, Jr. purchased 622 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the completion of the transaction, the chief executive officer now owns 97,609 shares in the company, valued at approximately $128,355,835. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Frank B. Holding, Jr. acquired 622 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the purchase, the chief executive officer now owns 97,609 shares of the company’s stock, valued at $128,355,835. The disclosure for this purchase can be found here. Insiders bought a total of 1,388 shares of company stock worth $1,825,220 over the last 90 days. Corporate insiders own 13.40% of the company’s stock.

Institutional Trading of First Citizens BancShares

Several institutional investors have recently added to or reduced their stakes in FCNCA. CWM LLC lifted its stake in First Citizens BancShares by 35.5% in the third quarter. CWM LLC now owns 187 shares of the bank’s stock worth $257,000 after purchasing an additional 49 shares during the last quarter. UMB Bank n.a. raised its stake in shares of First Citizens BancShares by 1,040.0% during the third quarter. UMB Bank n.a. now owns 57 shares of the bank’s stock valued at $79,000 after acquiring an additional 52 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new stake in shares of First Citizens BancShares during the third quarter valued at approximately $1,380,000. Commonwealth Equity Services LLC raised its stake in shares of First Citizens BancShares by 4.1% during the third quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock valued at $419,000 after acquiring an additional 12 shares in the last quarter. Finally, Xponance Inc. raised its stake in shares of First Citizens BancShares by 6.0% during the third quarter. Xponance Inc. now owns 548 shares of the bank’s stock valued at $756,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 61.18% 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.