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

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $2,290.75.

Several analysts recently commented on FCNCA shares. Wedbush dropped their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. Finally, The Goldman Sachs Group upped their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th.

First Citizens BancShares Stock Down 0.6 %

Shares of FCNCA opened at $2,218.11 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares has a one year low of $1,383.00 and a one year high of $2,388.78. The stock has a market capitalization of $31.03 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.01 and a beta of 0.86. The stock has a 50 day moving average price of $2,169.63 and a 200 day moving average price of $2,028.74.

First Citizens BancShares (NASDAQ:FCNCA) last issued 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). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the firm posted $55.92 earnings per share. Equities research analysts forecast that First Citizens BancShares will post 187.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Citizens BancShares

A number of hedge funds and other institutional investors have recently bought and sold shares of FCNCA. Commonwealth Equity Services LLC boosted its holdings in First Citizens BancShares by 20.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 427 shares of the bank’s stock valued at $720,000 after acquiring an additional 72 shares during the period. Acadian Asset Management LLC acquired a new stake in First Citizens BancShares in the 2nd quarter valued at about $475,000. American Century Companies Inc. raised its position in First Citizens BancShares by 40.1% in the 2nd quarter. American Century Companies Inc. now owns 6,404 shares of the bank’s stock valued at $10,782,000 after purchasing an additional 1,832 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in First Citizens BancShares by 2.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,112 shares of the bank’s stock valued at $1,871,000 after purchasing an additional 31 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in First Citizens BancShares by 127.9% in the 2nd quarter. Federated Hermes Inc. now owns 335 shares of the bank’s stock valued at $564,000 after purchasing an additional 188 shares in the last quarter. 78.01% of the stock is currently owned by hedge funds and other 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.