First Citizens BancShares (NASDAQ:FCNCA) Issues Earnings Results

First Citizens BancShares (NASDAQ:FCNCA) posted its quarterly earnings results on Friday. The bank reported $45.10 EPS for the quarter, beating the consensus estimate 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 Trading Up 0.4 %

Shares of NASDAQ:FCNCA opened at $2,225.00 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company’s 50-day moving average price is $2,171.41 and its 200 day moving average price is $2,035.98. The company has a market cap of $31.13 billion, a PE ratio of 12.75, a P/E/G ratio of 1.03 and a beta of 0.86. First Citizens BancShares has a fifty-two week low of $1,383.00 and a fifty-two week high of $2,412.93.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 0.35%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wedbush dropped their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Truist Financial began coverage on shares of First Citizens BancShares in a research report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price for the company. UBS Group assumed coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. 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 research report on Tuesday, January 7th. Finally, The Goldman Sachs Group lifted their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2,290.75.

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.