First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,568.00 at Barclays

First Citizens BancShares (NASDAQ:FCNCA) had its price target raised by analysts at Barclays from $2,456.00 to $2,568.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Barclays‘s target price suggests a potential upside of 16.49% from the company’s current price.

Several other equities research analysts have also weighed in on FCNCA. JPMorgan Chase & Co. lifted their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. 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 company a “buy” rating in a report on Tuesday, November 26th. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Friday. UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target for the company. Finally, Wedbush reduced their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $2,316.75.

First Citizens BancShares Trading Down 0.9 %

FCNCA traded down $20.46 during trading on Monday, reaching $2,204.54. 15,652 shares of the stock traded hands, compared to its average volume of 70,611. The stock’s 50-day moving average is $2,171.41 and its 200 day moving average is $2,038.04. First Citizens BancShares has a 12 month low of $1,438.08 and a 12 month high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $30.84 billion, a PE ratio of 12.63, a P/E/G ratio of 1.03 and a beta of 0.86.

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

Institutional Trading of First Citizens BancShares

Large investors have recently made changes to their positions in the stock. FMR LLC grew its stake in First Citizens BancShares by 11.6% in the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after purchasing an additional 33,713 shares in the last quarter. JPMorgan Chase & Co. boosted its position in First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after purchasing an additional 18,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in First Citizens BancShares by 15.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after purchasing an additional 7,613 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of First Citizens BancShares by 2.1% during the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock valued at $122,516,000 after buying an additional 1,183 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of First Citizens BancShares by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock valued at $86,812,000 after buying an additional 1,339 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.