First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,600.00

First Citizens BancShares (NASDAQ:FCNCA) had its price target boosted by Keefe, Bruyette & Woods from $2,500.00 to $2,600.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 18.10% from the company’s previous close.

Other analysts have also issued research reports about the stock. The Goldman Sachs Group raised 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 report on Tuesday, November 26th. Wedbush cut their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Barclays lifted their price target on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2,299.08.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $2,201.47 on Monday. First Citizens BancShares has a fifty-two week low of $1,383.00 and a fifty-two week high of $2,412.93. 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 firm has a market capitalization of $30.80 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.03 and a beta of 0.86. The company’s 50 day moving average price is $2,171.41 and its two-hundred day moving average price is $2,038.04.

First Citizens BancShares (NASDAQ:FCNCA) last issued its 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%. On average, equities analysts forecast that First Citizens BancShares will post 187.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Citizens BancShares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James & Associates increased its stake in First Citizens BancShares by 5.1% in the third quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock valued at $30,976,000 after purchasing an additional 811 shares in the last quarter. Balentine LLC bought a new stake in First Citizens BancShares in the third quarter valued at $3,564,000. Hiddenite Capital Partners LP increased its position in shares of First Citizens BancShares by 14.1% during the third quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock worth $5,946,000 after acquiring an additional 400 shares in the last quarter. Retireful LLC bought a new stake in shares of First Citizens BancShares during the third quarter worth about $801,000. Finally, Oliver Luxxe Assets LLC increased its position in shares of First Citizens BancShares by 22.6% during the third quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock worth $5,368,000 after acquiring an additional 537 shares in the last quarter. 78.01% of the stock is owned by 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.