First Citizens BancShares (NASDAQ:FCNCA) Downgraded by StockNews.com to “Sell”

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

Several other equities analysts have also recently commented on FCNCA. Truist Financial began coverage on First Citizens BancShares in a report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 price target for the company. Keefe, Bruyette & Woods upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 price target on the stock in a research report on Tuesday, January 14th. Wedbush reduced their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2,290.75.

First Citizens BancShares Trading Up 0.4 %

Shares of NASDAQ FCNCA opened at $2,225.00 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $31.13 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.03 and a beta of 0.86. First Citizens BancShares has a 52 week low of $1,383.00 and a 52 week high of $2,412.93. The business has a 50 day simple moving average of $2,171.41 and a 200 day simple moving average of $2,038.04.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating 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%. On average, research analysts predict that First Citizens BancShares will post 187.95 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FCNCA. Financial Life Planners acquired a new position in shares of First Citizens BancShares during the 4th quarter worth $33,000. Brooklyn Investment Group acquired a new position in shares of First Citizens BancShares in the third quarter worth approximately $39,000. GAMMA Investing LLC increased its position in shares of First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after buying an additional 35 shares during the period. Quarry LP bought a new position in shares of First Citizens BancShares in the 2nd quarter worth about $126,000. Finally, Private Trust Co. NA increased its stake in First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

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.