StockNews.com Downgrades First Citizens BancShares (NASDAQ:FCNCA) to Sell

First Citizens BancShares (NASDAQ:FCNCA) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Several other equities research analysts also recently weighed in on FCNCA. The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. 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 on the stock in a report on Tuesday, January 14th. UBS Group assumed coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target for the company. Wedbush reduced their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Barclays boosted their target price on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Hold” and a consensus price target of $2,290.75.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $2,216.49 on Friday. The stock has a fifty day simple moving average of $2,169.63 and a 200-day simple moving average of $2,028.74. 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 stock has a market cap of $31.01 billion, a PE ratio of 12.70, a P/E/G ratio of 1.03 and a beta of 0.86. First Citizens BancShares has a twelve month low of $1,383.00 and a twelve month high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The company 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. Equities analysts anticipate that First Citizens BancShares will post 187.95 earnings per share for the current year.

Hedge Funds Weigh In On First Citizens BancShares

Several hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new stake in First Citizens BancShares in the 3rd quarter worth approximately $39,000. GAMMA Investing LLC increased its stake in shares of First Citizens BancShares by 129.6% during the 3rd 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 last quarter. Quarry LP purchased a new position in shares of First Citizens BancShares during the 2nd quarter worth about $126,000. Private Trust Co. NA boosted its position in shares of First Citizens BancShares by 2,100.0% in 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 during the last quarter. Finally, UMB Bank n.a. purchased a new stake in First Citizens BancShares in the third quarter valued at approximately $177,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

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.