First Citizens BancShares (NASDAQ:FCNCA) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of First Citizens BancShares (NASDAQ:FCNCA) from a sell rating to a hold rating in a research report released on Saturday.

A number of other research firms have also recently issued reports on FCNCA. Truist Financial upped their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a report on Monday, January 26th. TD Cowen decreased their target price on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a research note on Monday, January 26th. UBS Group set a $2,325.00 price target on First Citizens BancShares in a research report on Wednesday, February 4th. Citigroup reissued a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. Finally, Zacks Research downgraded shares of First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,238.27.

First Citizens BancShares Stock Down 5.1%

Shares of First Citizens BancShares stock opened at $1,898.15 on Friday. First Citizens BancShares has a 12-month low of $1,473.62 and a 12-month high of $2,232.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. The stock has a 50 day moving average price of $2,102.42 and a two-hundred day moving average price of $1,956.50. The stock has a market capitalization of $23.61 billion, a P/E ratio of 11.45 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. Equities analysts expect that First Citizens BancShares will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $2.10 per share. The ex-dividend date is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is currently 5.07%.

Institutional Investors Weigh In On First Citizens BancShares

A number of institutional investors have recently bought and sold shares of the business. AlphaQuest LLC boosted its position in shares of First Citizens BancShares by 577.7% in the 3rd quarter. AlphaQuest LLC now owns 759 shares of the bank’s stock worth $1,358,000 after purchasing an additional 647 shares during the last quarter. Citigroup Inc. lifted its stake in First Citizens BancShares by 23.4% in the third quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock valued at $30,305,000 after buying an additional 3,215 shares during the period. Founders Financial Alliance LLC boosted its holdings in First Citizens BancShares by 484.7% during the third quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank’s stock worth $2,742,000 after buying an additional 1,270 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in shares of First Citizens BancShares during the 3rd quarter worth about $415,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of First Citizens BancShares by 8.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 43,787 shares of the bank’s stock valued at $78,341,000 after acquiring an additional 3,587 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full?service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.