First Citizens BancShares (NASDAQ:FCNCA) Given New $1,950.00 Price Target at Barclays

First Citizens BancShares (NASDAQ:FCNCA) had its price target lifted by Barclays from $1,850.00 to $1,950.00 in a research report report published on Friday, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

Several other research analysts have also issued reports on the company. DA Davidson reiterated a neutral rating and issued a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. Piper Sandler downgraded First Citizens BancShares from an overweight rating to a neutral rating and increased their price objective for the stock from $1,850.00 to $1,950.00 in a research note on Friday. Wedbush reissued an outperform rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a research note on Monday, January 29th. The Goldman Sachs Group started coverage on First Citizens BancShares in a research note on Thursday, March 21st. They issued a buy rating and a $1,950.00 price objective for the company. Finally, UBS Group increased their price objective on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a buy rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $1,829.90.

First Citizens BancShares Stock Down 2.5 %

Shares of First Citizens BancShares stock opened at $1,754.50 on Friday. First Citizens BancShares has a one year low of $945.32 and a one year high of $1,810.03. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s 50-day moving average is $1,582.88 and its 200 day moving average is $1,480.23. The firm has a market cap of $25.48 billion, a price-to-earnings ratio of 9.74 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $48.49 by ($1.91). The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 15.75% and a net margin of 18.22%. Equities research analysts anticipate that First Citizens BancShares will post 179.92 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Thursday, May 30th. First Citizens BancShares’s dividend payout ratio is currently 3.64%.

Insiders Place Their Bets

In other news, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Hope Holding Bryant purchased 300 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average cost of $1,315.00 per share, with a total value of $394,500.00. Following the completion of the acquisition, the insider now directly owns 1,978 shares of the company’s stock, valued at $2,601,070. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The disclosure for this sale can be found here. Insiders bought 1,388 shares of company stock valued at $1,825,220 over the last ninety days. 13.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Citizens BancShares

Several large investors have recently added to or reduced their stakes in the business. McCollum Christoferson Group LLC bought a new stake in First Citizens BancShares during the first quarter valued at $204,000. Yousif Capital Management LLC bought a new stake in First Citizens BancShares during the first quarter valued at $280,000. Quantum Financial Advisors LLC bought a new stake in First Citizens BancShares during the first quarter valued at $211,000. Newbridge Financial Services Group Inc. boosted its stake in First Citizens BancShares by 103.4% during the first quarter. Newbridge Financial Services Group Inc. now owns 59 shares of the bank’s stock valued at $96,000 after buying an additional 30 shares during the period. Finally, Simplicity Wealth LLC purchased a new stake in First Citizens BancShares during the first quarter valued at about $293,000. Institutional investors own 61.18% of the company’s stock.

About First Citizens BancShares

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.