First Citizens BancShares (NASDAQ:FCNCA) Cut to Sell at StockNews.com

StockNews.com cut shares of First Citizens BancShares (NASDAQ:FCNCA) from a hold rating to a sell rating in a research report report published on Friday.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group raised their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Truist Financial assumed coverage on First Citizens BancShares in a report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price for the company. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2,290.75.

First Citizens BancShares Stock Up 0.4 %

Shares of FCNCA opened at $2,225.00 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares has a one year low of $1,383.00 and a one year high of $2,412.93. The company has a market cap of $31.13 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.03 and a beta of 0.86. The firm has a 50 day simple moving average of $2,171.41 and a two-hundred day simple moving average of $2,038.04.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. Research analysts forecast that First Citizens BancShares will post 187.95 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.35%. First Citizens BancShares’s dividend payout ratio is presently 4.47%.

Institutional Trading of First Citizens BancShares

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after acquiring an additional 33,713 shares during the period. International Assets Investment Management LLC grew its holdings in First Citizens BancShares by 183,992.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock worth $440,580,000 after buying an additional 23,919 shares in the last quarter. Commerce Bank boosted its position in First Citizens BancShares by 4,762.2% during the 3rd quarter. Commerce Bank now owns 21,345 shares of the bank’s stock worth $39,295,000 after acquiring an additional 20,906 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of First Citizens BancShares by 337.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank’s stock valued at $48,095,000 after purchasing an additional 20,149 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after purchasing an additional 18,501 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

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.