Barclays Begins Coverage on First Citizens BancShares (NASDAQ:FCNCA)

Barclays started coverage on shares of First Citizens BancShares (NASDAQ:FCNCA) in a research report report published on Thursday, Marketbeat Ratings reports. The firm issued an equal weight rating and a $1,850.00 price target on the bank’s stock.

A number of other research analysts have also weighed in on the stock. UBS Group raised their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a buy rating in a report on Tuesday, January 30th. StockNews.com lowered shares of First Citizens BancShares from a hold rating to a sell rating in a report on Wednesday, April 3rd. DA Davidson reissued a neutral rating on shares of First Citizens BancShares in a report on Monday, January 15th. The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They issued a buy rating and a $1,950.00 target price for the company. Finally, Wedbush reissued 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 investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $1,785.57.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $1,569.17 on Thursday. First Citizens BancShares has a 12 month low of $945.32 and a 12 month high of $1,651.73. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 2.00 and a beta of 0.89. The company’s 50 day moving average is $1,559.06 and its two-hundred day moving average is $1,463.00. 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 released its quarterly earnings data on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $48.49 by ($1.91). The company 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 51.04% and a return on equity of 13.52%. As a group, research analysts anticipate that First Citizens BancShares will post 178.72 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $1.64 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $6.56 dividend on an annualized basis and a yield of 0.42%. First Citizens BancShares’s dividend payout ratio is presently 0.84%.

Insiders Place Their Bets

In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 466 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the purchase, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the sale, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Olivia Britton Holding purchased 466 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price 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 approximately $160,027,610. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,388 shares of company stock worth $1,825,220. 13.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Citizens BancShares

Large investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its position in First Citizens BancShares by 100.0% in the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after buying an additional 10 shares during the last quarter. GAMMA Investing LLC purchased a new stake in First Citizens BancShares in the 4th quarter worth approximately $30,000. Mather Group LLC. purchased a new stake in First Citizens BancShares in the 1st quarter worth approximately $31,000. Castleview Partners LLC purchased a new stake in First Citizens BancShares in the 2nd quarter worth approximately $31,000. Finally, Lindbrook Capital LLC boosted its position in First Citizens BancShares by 53.3% in the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after purchasing an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

About First Citizens BancShares

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.