First Citizens BancShares (NASDAQ:FCNCA) Upgraded at StockNews.com

First Citizens BancShares (NASDAQ:FCNCA) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

A number of other equities analysts also recently issued reports on FCNCA. 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. The Goldman Sachs Group boosted 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 report on Tuesday, November 26th. Truist Financial assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 price objective for the company. Keefe, Bruyette & Woods raised shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 target price for the company in a research note on Tuesday. Finally, Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,290.75.

First Citizens BancShares Stock Up 0.6 %

Shares of NASDAQ FCNCA opened at $2,152.52 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares has a 1 year low of $1,363.97 and a 1 year high of $2,388.78. The company has a market capitalization of $30.11 billion, a price-to-earnings ratio of 12.33 and a beta of 0.86. The business has a 50-day moving average of $2,167.37 and a two-hundred day moving average of $2,011.73.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (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 analysts’ expectations 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 period in the previous year, the business posted $55.92 EPS. On average, analysts forecast that First Citizens BancShares will post 188.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Citizens BancShares

Large investors have recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of First Citizens BancShares in the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC increased its stake in First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after acquiring an additional 35 shares during the period. Quarry LP acquired a new position in shares of First Citizens BancShares in the 2nd quarter worth approximately $126,000. Private Trust Co. NA raised its stake in First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after acquiring an additional 84 shares in the last quarter. Finally, UMB Bank n.a. bought a new stake in shares of First Citizens BancShares in the 3rd quarter worth about $177,000. Institutional investors own 78.01% of the company’s stock.

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.