First Citizens BancShares, Inc. (NASDAQ:FCNCA) Plans Quarterly Dividend of $1.95

First Citizens BancShares, Inc. (NASDAQ:FCNCA) declared a quarterly dividend on Friday, January 24th,RTT News reports. Stockholders of record on Friday, February 28th will be paid a dividend of 1.95 per share by the bank on Monday, March 17th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.35%.

First Citizens BancShares has increased its dividend by an average of 54.0% annually over the last three years. First Citizens BancShares has a payout ratio of 4.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Citizens BancShares to earn $161.34 per share next year, which means the company should continue to be able to cover its $7.80 annual dividend with an expected future payout ratio of 4.8%.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $2,225.00 on Friday. The stock has a market cap of $31.13 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. The business has a fifty day moving average of $2,171.41 and a 200-day moving average of $2,033.79. First Citizens BancShares has a fifty-two week low of $1,383.00 and a fifty-two week high of $2,412.93. 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 (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. As a group, analysts predict that First Citizens BancShares will post 187.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on FCNCA shares. Keefe, Bruyette & Woods upgraded 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. UBS Group started coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target for the company. Barclays lifted their price target on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Truist Financial assumed coverage on First Citizens BancShares in a research report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.