First Citizens BancShares (NASDAQ:FCNCA – Get Free Report) announced its quarterly earnings data on Thursday. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53), RTT News reports. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 18.19% and a return on equity of 14.84%. During the same period last year, the company earned $55.92 EPS.
First Citizens BancShares Stock Performance
FCNCA traded up $1.89 during trading on Friday, reaching $1,881.83. The company’s stock had a trading volume of 133,777 shares, compared to its average volume of 86,645. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.08 and a current ratio of 1.08. The company’s fifty day moving average price is $1,951.59 and its 200-day moving average price is $1,822.63. First Citizens BancShares has a 52-week low of $1,339.10 and a 52-week high of $2,174.80. The company has a market capitalization of $27.34 billion, a price-to-earnings ratio of 10.50 and a beta of 0.81.
First Citizens BancShares Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.41%. The ex-dividend date is Friday, November 29th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s payout ratio is 3.64%.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on FCNCA
First Citizens BancShares declared that its Board of Directors has approved a share buyback program on Thursday, July 25th that permits the company to buyback $3.50 billion in shares. This buyback authorization permits the bank to buy up to 12.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
About First Citizens BancShares
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.
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