First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives $2,290.75 Average Price Target from Analysts

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $2,290.75.

A number of research firms have commented on FCNCA. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price for the company. Barclays lifted their price target on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price for the company. Finally, Wedbush dropped their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th.

Hedge Funds Weigh In On First Citizens BancShares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCNCA. M&T Bank Corp lifted its position in shares of First Citizens BancShares by 0.8% during the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares during the last quarter. Metis Global Partners LLC lifted its holdings in shares of First Citizens BancShares by 4.9% during the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after buying an additional 6 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of First Citizens BancShares by 33.3% in the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock valued at $57,000 after acquiring an additional 7 shares during the period. Tandem Capital Management Corp ADV grew its stake in shares of First Citizens BancShares by 1.8% in the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after acquiring an additional 8 shares during the last quarter. Finally, Mount Lucas Management LP grew its stake in shares of First Citizens BancShares by 2.6% in the third quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock worth $580,000 after acquiring an additional 8 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 1.5 %

Shares of First Citizens BancShares stock opened at $2,188.94 on Thursday. The stock has a market capitalization of $30.62 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.96 and a beta of 0.86. First Citizens BancShares has a twelve month low of $1,371.77 and a twelve month high of $2,388.78. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The business’s 50 day simple moving average is $2,167.41 and its 200-day simple moving average is $2,023.61.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53). The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same quarter in the prior year, the company posted $55.92 EPS. Equities research analysts forecast that First Citizens BancShares will post 186.98 earnings per share for the current year.

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.