First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,456.00 at Barclays

First Citizens BancShares (NASDAQ:FCNCA) had its target price increased by stock analysts at Barclays from $2,250.00 to $2,456.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Barclays‘s price target points to a potential upside of 13.49% from the company’s previous close.

FCNCA has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. UBS Group began coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price on the stock. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Wedbush dropped their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Hold” and a consensus price target of $2,262.36.

First Citizens BancShares Trading Up 0.6 %

Shares of NASDAQ:FCNCA traded up $13.39 during midday trading on Monday, hitting $2,164.01. 36,311 shares of the stock were exchanged, compared to its average volume of 41,902. First Citizens BancShares has a 12 month low of $1,363.97 and a 12 month high of $2,388.78. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $30.27 billion, a price-to-earnings ratio of 12.40 and a beta of 0.86. The business’s 50-day moving average price is $2,145.56 and its 200 day moving average price is $1,986.05.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). The business had revenue of $2.45 billion during 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 period in the prior year, the firm earned $55.92 EPS. Analysts predict that First Citizens BancShares will post 187.88 earnings per share for the current year.

Institutional Trading of First Citizens BancShares

Several institutional investors and hedge funds have recently modified their holdings of FCNCA. Brooklyn Investment Group bought a new stake in First Citizens BancShares in the 3rd quarter worth about $39,000. GAMMA Investing LLC grew its holdings in shares of 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 in the last quarter. National Bank of Canada FI increased its position in shares of First Citizens BancShares by 17.7% during the second quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock valued at $124,000 after acquiring an additional 11 shares during the last quarter. Quarry LP bought a new stake in First Citizens BancShares during the second quarter worth $126,000. Finally, Private Trust Co. NA boosted its position in 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 purchasing an additional 84 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

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.