Piper Sandler Raises First Citizens BancShares (NASDAQ:FCNCA) Price Target to $2,250.00

First Citizens BancShares (NASDAQ:FCNCAGet Free Report) had its price target hoisted by Piper Sandler from $2,100.00 to $2,250.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target indicates a potential upside of 3.25% from the stock’s current price.

Several other equities research analysts have also commented on FCNCA. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Barclays raised their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a report on Monday. Truist Financial began 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. StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, 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 target for the company. 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2,316.75.

Read Our Latest Analysis on FCNCA

First Citizens BancShares Trading Down 0.1 %

Shares of FCNCA stock opened at $2,179.18 on Monday. First Citizens BancShares has a 1-year low of $1,438.08 and a 1-year high of $2,412.93. The firm’s 50-day simple moving average is $2,170.40 and its 200-day simple moving average is $2,044.13. The firm has a market cap of $30.49 billion, a P/E ratio of 12.48, a PEG ratio of 1.03 and a beta of 0.86. 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 (NASDAQ:FCNCAGet Free Report) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. As a group, equities analysts forecast that First Citizens BancShares will post 187.95 EPS for the current year.

Institutional Investors Weigh In On First Citizens BancShares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Life Planners purchased a new position in shares of First Citizens BancShares during the 4th quarter valued at approximately $33,000. Mather Group LLC. raised its holdings in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares in the last quarter. Brooklyn Investment Group bought a new position in First Citizens BancShares during the 3rd quarter valued at $39,000. GAMMA Investing LLC grew its holdings in First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after acquiring an additional 35 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of First Citizens BancShares in the 2nd quarter worth about $126,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for First Citizens BancShares (NASDAQ:FCNCA)

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