First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,250.00

First Citizens BancShares (NASDAQ:FCNCA) had its target price upped by analysts at Piper Sandler from $2,100.00 to $2,250.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective suggests a potential upside of 2.06% from the company’s current price.

A number of other research firms also recently issued reports on FCNCA. Truist Financial began coverage on First Citizens BancShares in a research note on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 price target for the company. Barclays lifted their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a report on Monday. Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday. The Goldman Sachs Group increased their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Hold” and a consensus price target of $2,316.75.

First Citizens BancShares Price Performance

NASDAQ:FCNCA traded down $20.46 during trading hours on Monday, hitting $2,204.54. The company’s stock had a trading volume of 15,652 shares, compared to its average volume of 70,611. First Citizens BancShares has a twelve month low of $1,438.08 and a twelve month 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 stock has a fifty day simple moving average of $2,171.41 and a 200-day simple moving average of $2,038.04. The company has a market capitalization of $30.84 billion, a P/E ratio of 12.63, a PEG ratio of 1.03 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. On average, analysts anticipate that First Citizens BancShares will post 187.95 EPS for the current fiscal year.

Hedge Funds Weigh In On First Citizens BancShares

Hedge funds have recently made changes to their positions in the business. M&T Bank Corp increased its stake in shares of First Citizens BancShares by 0.8% during the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after purchasing an additional 5 shares in the last quarter. Mather Group LLC. grew its stake in shares of First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares during the last quarter. Metis Global Partners LLC increased its position in First Citizens BancShares by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after buying an additional 6 shares in the last quarter. Brooklyn Investment Group raised its stake in First Citizens BancShares by 33.3% during the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock valued at $57,000 after buying an additional 7 shares during the last quarter. Finally, Tandem Capital Management Corp ADV boosted its holdings in First Citizens BancShares by 1.8% in the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after acquiring an additional 8 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

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.