First Citizens BancShares (NASDAQ:FCNCA – Get Rating) will issue its quarterly earnings data before the market opens on Thursday, January 26th. Analysts expect the company to announce earnings of $23.34 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.
First Citizens BancShares (NASDAQ:FCNCA – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The bank reported $20.77 earnings per share for the quarter, beating the consensus estimate of $19.88 by $0.89. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.02 billion. First Citizens BancShares had a return on equity of 12.43% and a net margin of 21.12%. On average, analysts expect First Citizens BancShares to post $79 EPS for the current fiscal year and $98 EPS for the next fiscal year.
First Citizens BancShares Stock Performance
First Citizens BancShares stock opened at $799.29 on Wednesday. The stock’s 50 day simple moving average is $781.88 and its two-hundred day simple moving average is $797.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market cap of $11.59 billion, a price-to-earnings ratio of 12.71 and a beta of 0.95. First Citizens BancShares has a fifty-two week low of $598.01 and a fifty-two week high of $885.38.
Wall Street Analysts Forecast Growth
Insider Buying and Selling
In related news, insider Jeffery L. Ward bought 1,600 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was acquired at an average cost of $19.93 per share, for a total transaction of $31,888.00. Following the purchase, the insider now owns 5,600 shares in the company, valued at $111,608. The acquisition was disclosed in a filing with the SEC, which is available through this link. 13.40% of the stock is owned by company insiders.
Institutional Investors Weigh In On First Citizens BancShares
A number of hedge funds have recently added to or reduced their stakes in FCNCA. American International Group Inc. increased its stake in shares of First Citizens BancShares by 95.4% in the 1st quarter. American International Group Inc. now owns 127 shares of the bank’s stock worth $85,000 after purchasing an additional 62 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of First Citizens BancShares in the 1st quarter worth $162,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of First Citizens BancShares in the 1st quarter worth $207,000. Point72 Hong Kong Ltd increased its stake in shares of First Citizens BancShares by 604.4% in the 1st quarter. Point72 Hong Kong Ltd now owns 317 shares of the bank’s stock worth $211,000 after purchasing an additional 272 shares in the last quarter. Finally, Forum Financial Management LP increased its stake in shares of First Citizens BancShares by 24.0% in the 1st quarter. Forum Financial Management LP now owns 320 shares of the bank’s stock worth $212,000 after purchasing an additional 62 shares in the last quarter. 66.53% of the stock is currently owned by hedge funds and other institutional investors.
First Citizens BancShares Company Profile
First Citizens BancShares, Inc is a bank holding company, which provides retail and commercial banking services through its subsidiaries. The company operates under the following segments: General Banking, Commercial Banking, Rail, and Corporate. The General Banking delivers services to individuals through branch networks.
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