First Citizens BancShares (NASDAQ:FCNCA) Rating Increased to Hold at BidaskClub

First Citizens BancShares (NASDAQ:FCNCA) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday, BidAskClub reports.

NASDAQ FCNCA opened at $425.87 on Friday. First Citizens BancShares has a 1 year low of $276.08 and a 1 year high of $542.12. The company has a fifty day simple moving average of $398.33 and a 200 day simple moving average of $408.31. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. The company has a market cap of $4.33 billion, a P/E ratio of 10.38 and a beta of 1.38.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its holdings in First Citizens BancShares by 10,100.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 102 shares of the bank’s stock valued at $34,000 after acquiring an additional 101 shares in the last quarter. Signaturefd LLC grew its position in First Citizens BancShares by 107.1% in the second quarter. Signaturefd LLC now owns 116 shares of the bank’s stock valued at $47,000 after acquiring an additional 60 shares during the period. Bartlett & Co. LLC bought a new stake in First Citizens BancShares in the first quarter valued at $133,000. Advisor Group Holdings Inc. acquired a new position in First Citizens BancShares during the first quarter worth $193,000. Finally, Cardinal Capital Management bought a new position in shares of First Citizens BancShares during the second quarter valued at $201,000. 42.79% of the stock is currently 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 banking services to retail and commercial customers. Its deposit products include checking, savings, money market and time deposit accounts. The company's loan products portfolio comprises commercial construction and land development, commercial mortgage, commercial and industrial, lease financing, and other commercial real estate loans; and noncommercial construction and land development, residential mortgage, revolving mortgage, consumer loans, and construction and land development loans.

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