First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $2,290.75.

A number of analysts recently weighed in on FCNCA shares. The Goldman Sachs Group upped their target price on shares of 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. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective on the stock. Barclays raised their target price on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. UBS Group started coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Finally, Wedbush cut 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 report on Friday, October 25th.

First Citizens BancShares Trading Up 1.5 %

First Citizens BancShares stock opened at $2,188.94 on Thursday. The business has a 50 day moving average price of $2,167.41 and a two-hundred day moving average price of $2,023.61. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares has a 12 month low of $1,371.77 and a 12 month high of $2,388.78. The stock has a market cap of $30.62 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 0.96 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53). The firm 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 last year, the business earned $55.92 earnings per share. As a group, equities analysts forecast that First Citizens BancShares will post 186.98 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FCNCA. Commonwealth Equity Services LLC boosted its stake in First Citizens BancShares by 20.3% in the second quarter. Commonwealth Equity Services LLC now owns 427 shares of the bank’s stock valued at $720,000 after acquiring an additional 72 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of First Citizens BancShares during the second quarter worth $475,000. American Century Companies Inc. grew its position 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 buying an additional 1,832 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of First Citizens BancShares by 2.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,112 shares of the bank’s stock valued at $1,871,000 after acquiring an additional 31 shares during the period. Finally, Federated Hermes Inc. boosted its stake in 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 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.