First Citizens BancShares (NASDAQ:FCNCA) Stock Rating Upgraded by StockNews.com

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

Other analysts also recently issued research reports about the company. Barclays raised their price objective on 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. UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Wedbush decreased their price objective 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 downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Truist Financial began coverage on shares of First Citizens BancShares in a report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 price target for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus price target 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. The stock has a market cap of $30.11 billion, a price-to-earnings ratio of 12.33 and a beta of 0.86. The company has a 50 day moving average of $2,167.37 and a 200-day moving average of $2,011.73. First Citizens BancShares has a one year low of $1,363.97 and a one year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter in the prior year, the company posted $55.92 EPS. On average, sell-side analysts forecast that First Citizens BancShares will post 188.21 earnings per share for the current year.

Institutional Investors Weigh In On First Citizens BancShares

Several large investors have recently made changes to their positions in FCNCA. Commonwealth Equity Services LLC lifted its stake in First Citizens BancShares by 20.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 427 shares of the bank’s stock valued at $720,000 after purchasing an additional 72 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of First Citizens BancShares in the second quarter valued at approximately $475,000. American Century Companies Inc. boosted its stake in shares of First Citizens BancShares by 40.1% during the 2nd quarter. American Century Companies Inc. now owns 6,404 shares of the bank’s stock worth $10,782,000 after acquiring an additional 1,832 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of First Citizens BancShares by 2.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,112 shares of the bank’s stock worth $1,871,000 after acquiring an additional 31 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of First Citizens BancShares by 127.9% during the 2nd quarter. Federated Hermes Inc. now owns 335 shares of the bank’s stock worth $564,000 after acquiring an additional 188 shares during the last quarter. Institutional investors and hedge funds 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.