First Citizens BancShares (NASDAQ:FCNCA) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares (NASDAQ:FCNCA) in a report released on Monday, Marketbeat reports. The firm set a “buy” rating and a $2,600.00 price target on the bank’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 22.58% from the company’s current price.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group boosted their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. 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. JPMorgan Chase & Co. dropped 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. Finally, Keefe, Bruyette & Woods downgraded First Citizens BancShares from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,157.64.

First Citizens BancShares Trading Down 1.5 %

Shares of FCNCA stock opened at $2,121.05 on Monday. The firm has a market capitalization of $29.67 billion, a P/E ratio of 12.15 and a beta of 0.83. First Citizens BancShares has a twelve month low of $1,363.97 and a twelve month high of $2,388.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock’s fifty day simple moving average is $2,101.07 and its 200 day simple moving average is $1,934.36.

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 analysts’ consensus estimates 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 the consensus estimate of $2.36 billion. During the same quarter in the prior year, the firm earned $55.92 EPS. As a group, sell-side analysts predict that First Citizens BancShares will post 187.88 EPS for the current fiscal year.

Institutional Investors Weigh In On First Citizens BancShares

A number of institutional investors and hedge funds have recently made changes to their positions in FCNCA. Toronto Dominion Bank raised its position in First Citizens BancShares by 3,577.5% during the second quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock valued at $58,943,000 after purchasing an additional 34,058 shares in the last quarter. FMR LLC raised its position in First Citizens BancShares by 11.6% during the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after purchasing an additional 33,713 shares in the last quarter. Zurich Insurance Group Ltd FI raised its position in First Citizens BancShares by 225.2% during the second quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock valued at $70,979,000 after purchasing an additional 29,194 shares in the last quarter. International Assets Investment Management LLC raised its position in First Citizens BancShares by 183,992.3% during the third quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock valued at $440,580,000 after purchasing an additional 23,919 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in First Citizens BancShares by 6,773.9% during the second quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock valued at $40,274,000 after purchasing an additional 23,573 shares in the last quarter. Hedge funds and other 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.