First Citizens BancShares (NASDAQ:FCNCA) Issues Earnings Results

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

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $2,366.02 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. The firm has a market cap of $33.10 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.03 and a beta of 0.86. The stock’s fifty day simple moving average is $2,169.63 and its 200 day simple moving average is $2,028.74. First Citizens BancShares has a one year low of $1,383.00 and a one year high of $2,388.78.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 4.47%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FCNCA. 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. Barclays lifted their target price on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Friday. The Goldman Sachs Group lifted their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial initiated coverage on First Citizens BancShares in a report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price on the stock. One equities research 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. Based on data from MarketBeat.com, First Citizens BancShares has an average rating of “Hold” and an average price target 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.