First Citizens BancShares (FCNCA) Expected to Announce Earnings on Friday

First Citizens BancShares (NASDAQ:FCNCA) is projected to announce its results before the market opens on Friday, October 23rd. Analysts expect the company to announce earnings of $46.18 per share and revenue of $2.26 billion for the quarter.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $57.09 earnings per share for the quarter, topping the consensus estimate of $0.41 by $56.68. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.16 billion. First Citizens BancShares had a net margin of 16.28% and a return on equity of 12.07%. On average, analysts expect First Citizens BancShares to post $193.20 EPS for the current fiscal year and $202.36 EPS for the next fiscal year.

First Citizens BancShares Stock Up 1.1%

Shares of NASDAQ FCNCA opened at $2,143.91 on Thursday. The stock has a market cap of $24.20 billion, a P/E ratio of 10.72, a P/E/G ratio of 1.57 and a beta of 0.58. The firm has a 50 day moving average price of $2,134.32 and a 200 day moving average price of $2,083.58. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.00 and a current ratio of 1.00. First Citizens BancShares has a 52-week low of $1,727.10 and a 52-week high of $2,296.30.

Insider Activity

In other news, major shareholder Olivia Britton Holding sold 7,000 shares of First Citizens BancShares stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $19.53, for a total transaction of $136,710.00. Following the transaction, the insider owned 15,000 shares in the company, valued at $292,950. The trade was a 31.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Diane Morais acquired 50 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average price of $2,168.11 per share, with a total value of $108,405.50. Following the completion of the transaction, the director directly owned 100 shares in the company, valued at $216,811. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 14.63% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Barclays increased their target price on shares of First Citizens BancShares from $2,346.00 to $2,376.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Jefferies Financial Group reissued a “hold” rating and issued a $2,300.00 price target on shares of First Citizens BancShares in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of First Citizens BancShares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Finally, Truist Financial upped their price objective on shares of First Citizens BancShares from $2,150.00 to $2,323.00 and gave the company a “hold” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, First Citizens BancShares has a consensus rating of “Hold” and a consensus target price of $2,261.00.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is a bank holding company headquartered in Raleigh, North Carolina. Its principal subsidiary, First-Citizens Bank & Trust Company, provides banking and financial services to individuals, businesses, and institutions through a network of branches and digital banking channels.

The bank offers deposit accounts, consumer and residential lending, commercial and industrial loans, commercial real estate financing, equipment finance, treasury management, and payment services.