First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,600.00

First Citizens BancShares (NASDAQ:FCNCA) had its target price raised by stock analysts at Keefe, Bruyette & Woods from $2,500.00 to $2,600.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 18.10% from the stock’s current price.

FCNCA has been the subject of a number of other reports. The Goldman Sachs Group increased their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 target price for the company. Wedbush cut their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. Finally, StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, First Citizens BancShares has an average rating of “Hold” and a consensus target price of $2,299.08.

First Citizens BancShares Trading Down 0.7 %

First Citizens BancShares stock opened at $2,201.47 on Monday. The firm has a 50-day moving average of $2,171.41 and a 200-day moving average of $2,038.04. First Citizens BancShares has a one year low of $1,383.00 and a one year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $30.80 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.03 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. On average, equities analysts expect that First Citizens BancShares will post 187.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Mather Group LLC. increased its stake in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares during the last quarter. Optas LLC bought a new position in First Citizens BancShares in the fourth quarter valued at approximately $211,000. Financial Life Planners bought a new position in First Citizens BancShares in the fourth quarter valued at approximately $33,000. Catalina Capital Group LLC increased its stake in First Citizens BancShares by 8.3% in the fourth quarter. Catalina Capital Group LLC now owns 118 shares of the bank’s stock valued at $249,000 after acquiring an additional 9 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in First Citizens BancShares in the fourth quarter valued at approximately $1,306,000. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Company Profile

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.