Fintel reports that on May 16, 2023, UBS maintained coverage of First Citizens Bancshares, Inc (NC) - (NASDAQ:FCNCA) with a Buy recommendation.
Analyst Price Forecast Suggests 10.47% Downside
As of May 11, 2023, the average one-year price target for First Citizens Bancshares, Inc (NC) - is 1,133.42. The forecasts range from a low of 959.50 to a high of $1,266.30. The average price target represents a decrease of 10.47% from its latest reported closing price of 1,265.96.
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The projected annual revenue for First Citizens Bancshares, Inc (NC) - is 4,699MM. The projected annual non-GAAP EPS is 99.19.
First Citizens Bancshares, Inc (NC) - Declares $0.75 Dividend
On April 25, 2023 the company declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Shareholders of record as of May 31, 2023 will receive the payment on June 15, 2023. Previously, the company paid $0.75 per share.
At the current share price of $1,265.96 / share, the stock's dividend yield is 0.24%.
What is the Fund Sentiment?
There are 810 funds or institutions reporting positions in First Citizens Bancshares, Inc (NC) -. This is an increase of 18 owner(s) or 2.27% in the last quarter. Average portfolio weight of all funds dedicated to FCNCA is 0.41%, an increase of 7.70%. Total shares owned by institutions decreased in the last three months by 2.43% to 10,321K shares. 
The put/call ratio of FCNCA is 1.05, indicating a bearish outlook.
What are Other Shareholders Doing?
Egerton Capital (UK) LLP holds 603K shares. In it's prior filing, the firm reported owning 710K shares, representing a decrease of 17.80%. The firm increased its portfolio allocation in FCNCA by 36.63% over the last quarter.
BLACKROCK EQUITY DIVIDEND FUND - BLACKROCK EQUITY DIVIDEND FUND Investor A holds 477K shares. In it's prior filing, the firm reported owning 423K shares, representing an increase of 11.33%. The firm increased its portfolio allocation in FCNCA by 3.46% over the last quarter.
Fuller & Thaler Asset Management holds 343K shares. In it's prior filing, the firm reported owning 147K shares, representing an increase of 57.13%. The firm increased its portfolio allocation in FCNCA by 171.85% over the last quarter.
Harris Associates L P holds 328K shares. In it's prior filing, the firm reported owning 257K shares, representing an increase of 21.84%. The firm increased its portfolio allocation in FCNCA by 54.11% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 308K shares. In it's prior filing, the firm reported owning 358K shares, representing a decrease of 16.42%. The firm decreased its portfolio allocation in FCNCA by 24.56% over the last quarter.
First Citizens Bancshares, Inc Background Information
(This description is provided by the company.)
Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank is one of the largest family-controlled banks in the U.S., with offices in 19 states. Drawing from over a century of experience serving the needs of business customers, First Citizens focuses on developing long-term relationships and offers a comprehensive array of products and services to help small businesses manage their finances and grow. First Citizens Bank is a major subsidiary of First Citizens BancShares Inc., which has over $48 billion in assets.
Key filings for this company:
This story originally appeared on Fintel.
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