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

First Citizens BancShares, Inc. (NASDAQ:FCNCA) declared a quarterly dividend on Friday, January 24th,RTT News reports. Shareholders 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 annualized dividend and a dividend yield of 0.35%.

First Citizens BancShares has raised its dividend payment by an average of 54.0% annually over the last three years. First Citizens BancShares has a dividend payout ratio of 4.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of FCNCA stock opened at $2,216.49 on Friday. The stock has a 50 day moving average price of $2,169.63 and a 200 day moving average price of $2,028.74. The firm has a market capitalization of $31.01 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.03 and a beta of 0.86. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares has a 52-week low of $1,383.00 and a 52-week high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS 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%. As a group, sell-side analysts predict that First Citizens BancShares will post 187.95 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Truist Financial assumed coverage on First Citizens BancShares in a report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of 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. Finally, StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $2,290.75.

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.