First Citizens BancShares (NASDAQ:FCNCA) Issues Earnings Results, Beats Expectations By $5.78 EPS

First Citizens BancShares (NASDAQ:FCNCA) announced its quarterly earnings data on Friday. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78, Zacks reports. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $2,366.02 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares has a fifty-two week low of $1,383.00 and a fifty-two week high of $2,388.78. The stock has a market cap of $33.10 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. The firm’s fifty day simple moving average is $2,169.63 and its 200-day simple moving average is $2,028.74.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.33%. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

Wall Street Analyst Weigh In

Several research firms have recently commented on FCNCA. Keefe, Bruyette & Woods upgraded shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 price target for the company in a report on Tuesday, January 14th. StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Friday. The Goldman Sachs Group boosted their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Truist Financial began coverage on shares of First Citizens BancShares in a research report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price on the stock. Finally, UBS Group began coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2,290.75.

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.