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

First Citizens BancShares (NASDAQ:FCNCA) had its target price raised by investment analysts at Barclays from $2,456.00 to $2,568.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective indicates a potential upside of 16.49% from the company’s previous close.

Several other equities research analysts have also recently issued reports on FCNCA. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective on the stock. StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Truist Financial assumed coverage on shares of First Citizens BancShares in a report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price for the company. Finally, Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Hold” and an average target price of $2,316.75.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA traded down $20.46 during trading on Monday, reaching $2,204.54. 15,652 shares of the company traded hands, compared to its average volume of 70,611. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm’s fifty day simple moving average is $2,171.41 and its 200 day simple 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 stock has a market cap 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 posted 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 net margin of 17.36% and a return on equity of 13.63%. As a group, research analysts anticipate that First Citizens BancShares will post 187.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.