Is it time to Buy before this week’s earning report First Citizens BancShares (NASDAQ:FCNCA)

Earnings results for First Citizens BancShares (NASDAQ:FCNCA)

First Citizens BancShares, Inc. is estimated to report earnings on 10/15/2021. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $11.73. The reported EPS for the same quarter last year was $14.03.

First Citizens BancShares last posted its quarterly earnings data on August 2nd, 2021. The bank reported $15.09 earnings per share for the quarter, topping analysts’ consensus estimates of $12.95 by $2.14. The firm had revenue of $480.54 million for the quarter. First Citizens BancShares has generated $47.50 earnings per share over the last year ($57.24 diluted earnings per share) and currently has a price-to-earnings ratio of 14.6. Earnings for First Citizens BancShares are expected to grow by 101.58% in the coming year, from $39.97 to $80.57 per share. First Citizens BancShares has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Friday, October 15th, 2021 based off prior year’s report dates.

Analyst Opinion on First Citizens BancShares (NASDAQ:FCNCA)

According to the issued ratings of 4 analysts in the last year, the consensus rating for First Citizens BancShares stock is Buy based on the current 1 hold rating and 3 buy ratings for FCNCA. The average twelve-month price target for First Citizens BancShares is $1,025.00 with a high price target of $1,075.00 and a low price target of $1,000.00.
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on FCNCA’s analyst rating history

First Citizens BancShares has received a consensus rating of Buy. The company’s average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $1,025.00, First Citizens BancShares has a forecasted upside of 22.7% from its current price of $835.43. First Citizens BancShares has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: First Citizens BancShares (NASDAQ:FCNCA)

First Citizens BancShares has a dividend yield of 0.22%, which is in the bottom 25% of all stocks that pay dividends. First Citizens BancShares has only been increasing its dividend for 1 years. The dividend payout ratio of First Citizens BancShares is 3.96%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, First Citizens BancShares will have a dividend payout ratio of 2.33% next year. This indicates that First Citizens BancShares will be able to sustain or increase its dividend.

Insiders buying/selling: First Citizens BancShares (NASDAQ:FCNCA)

In the past three months, First Citizens BancShares insiders have not sold or bought any company stock. 21.66% of the stock of First Citizens BancShares is held by insiders. A high percentage of insider ownership can be a sign of company health. 51.39% of the stock of First Citizens BancShares is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of First Citizens BancShares (NASDAQ:FCNCA

Earnings for First Citizens BancShares are expected to grow by 101.58% in the coming year, from $39.97 to $80.57 per share. The P/E ratio of First Citizens BancShares is 14.60, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 14.72. The P/E ratio of First Citizens BancShares is 14.60, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 14.60. First Citizens BancShares has a P/B Ratio of 2.11. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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