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 note issued to investors on Monday.

Other equities analysts have also issued research reports about the stock. Wedbush restated an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a research report on Monday, January 29th. DA Davidson reaffirmed a “neutral” rating and issued a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. Piper Sandler lowered First Citizens BancShares from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $1,850.00 to $1,950.00 in a research note on Friday. The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective for the company. Finally, Barclays increased their price objective on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a research note on Friday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,829.90.

First Citizens BancShares Trading Down 2.7 %

FCNCA stock traded down $47.02 during mid-day trading on Monday, reaching $1,707.48. The company’s stock had a trading volume of 104,315 shares, compared to its average volume of 82,315. The company has a market cap of $24.79 billion, a price-to-earnings ratio of 9.48 and a beta of 0.89. First Citizens BancShares has a 12 month low of $945.32 and a 12 month high of $1,810.03. The business’s 50 day moving average price is $1,586.73 and its 200 day moving average price is $1,484.07. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 15.75% and a net margin of 18.22%. On average, equities research analysts predict that First Citizens BancShares will post 179.92 EPS for the current year.

Insider Activity

In related news, insider Hope Holding Bryant acquired 300 shares of the stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $1,315.00 per share, with a total value of $394,500.00. Following the transaction, the insider now directly owns 1,978 shares in the company, valued at $2,601,070. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Hope Holding Bryant purchased 300 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average price of $1,315.00 per share, for a total transaction of $394,500.00. Following the acquisition, the insider now directly owns 1,978 shares of the company’s stock, valued at $2,601,070. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Olivia Britton Holding purchased 466 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the transaction, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The disclosure for this purchase can be found here. Insiders acquired a total of 1,388 shares of company stock valued at $1,825,220 in the last 90 days. Company insiders own 12.85% of the company’s stock.

Hedge Funds Weigh In On First Citizens BancShares

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its stake in shares of First Citizens BancShares by 4.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock valued at $419,000 after buying an additional 12 shares during the period. Xponance Inc. lifted its holdings in First Citizens BancShares by 6.0% during the 3rd quarter. Xponance Inc. now owns 548 shares of the bank’s stock worth $756,000 after buying an additional 31 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of First Citizens BancShares by 11.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 573 shares of the bank’s stock worth $791,000 after acquiring an additional 60 shares in the last quarter. Ceredex Value Advisors LLC increased its holdings in shares of First Citizens BancShares by 7.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 48,000 shares of the bank’s stock valued at $66,245,000 after acquiring an additional 3,475 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after acquiring an additional 8 shares in the last quarter. 61.18% of the stock is currently 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.