First Citizens BancShares (NASDAQ:FCNCA) PT Raised to $1,950.00 at Barclays

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

Other equities research analysts have also recently issued reports about the stock. Piper Sandler cut shares of First Citizens BancShares from an overweight rating to a neutral rating and boosted their price objective for the company from $1,850.00 to $1,950.00 in a research report on Friday. The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They issued a buy rating and a $1,950.00 price target on the stock. StockNews.com lowered shares of First Citizens BancShares from a hold rating to a sell rating in a research note on Wednesday, April 3rd. DA Davidson reiterated a neutral rating and issued a $1,650.00 price target (up from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Finally, Wedbush reiterated an outperform rating and issued a $1,800.00 price target on shares of First Citizens BancShares in a research note on Monday, January 29th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of Moderate Buy and a consensus target price of $1,829.90.

First Citizens BancShares Trading Down 2.7 %

FCNCA opened at $1,707.48 on Friday. The stock has a market capitalization of $24.79 billion, a P/E ratio of 9.48 and a beta of 0.89. First Citizens BancShares has a 12 month low of $945.32 and a 12 month high of $1,810.03. The firm’s fifty day simple moving average is $1,586.73 and its 200 day simple moving average is $1,484.07. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). The company had revenue of $2.45 billion during 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%. As a group, research analysts anticipate that First Citizens BancShares will post 179.92 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

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 paid a dividend of $1.64 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $6.56 annualized dividend and a dividend yield of 0.38%. First Citizens BancShares’s dividend payout ratio is presently 3.64%.

Insider Transactions at First Citizens BancShares

In other news, major shareholder Olivia Britton Holding acquired 466 shares of the stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, for a total transaction of $612,790.00. Following the purchase, the insider now directly owns 121,694 shares of the company’s stock, valued at $160,027,610. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Hope Holding Bryant purchased 300 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $1,315.00 per share, for a total transaction of $394,500.00. Following the purchase, the insider now owns 1,978 shares in the company, valued at $2,601,070. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Olivia Britton Holding purchased 466 shares of the firm’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 $612,790.00. Following the purchase, the insider now owns 121,694 shares in the company, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Insiders have bought 1,388 shares of company stock worth $1,825,220 in the last ninety days. Insiders own 12.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lincoln National Corp grew its stake in First Citizens BancShares by 2.6% in the 4th quarter. Lincoln National Corp now owns 277 shares of the bank’s stock valued at $393,000 after buying an additional 7 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in First Citizens BancShares by 4.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 161 shares of the bank’s stock valued at $229,000 after purchasing an additional 7 shares during the period. Quadrant Capital Group LLC boosted its holdings in First Citizens BancShares by 4.4% in the 4th quarter. Quadrant Capital Group LLC now owns 165 shares of the bank’s stock valued at $234,000 after purchasing an additional 7 shares during the period. Park Avenue Securities LLC boosted its holdings in First Citizens BancShares by 1.6% in the 1st quarter. Park Avenue Securities LLC now owns 450 shares of the bank’s stock valued at $736,000 after purchasing an additional 7 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in First Citizens BancShares by 53.3% in the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after purchasing an additional 8 shares during the period. Institutional investors and hedge funds 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.