Deutsche Bank Aktiengesellschaft Begins Coverage on First Citizens BancShares (NASDAQ:FCNCA)

Investment analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares (NASDAQ:FCNCA) in a report released on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $2,600.00 price target on the bank’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 18.36% from the stock’s previous close.

Several other research analysts have also commented on FCNCA. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Wedbush reduced 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 note on Friday, October 25th. Keefe, Bruyette & Woods lowered shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $2,100.00 to $2,500.00 in a report on Wednesday, December 4th. The Goldman Sachs Group raised their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. decreased their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,157.64.

First Citizens BancShares Stock Up 0.0 %

FCNCA stock opened at $2,196.60 on Monday. 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 has a 50-day moving average of $2,088.79 and a two-hundred day moving average of $1,929.12. First Citizens BancShares has a 12 month low of $1,363.97 and a 12 month high of $2,388.78. The company has a market cap of $30.73 billion, a price-to-earnings ratio of 12.58 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53). The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same period in the prior year, the business posted $55.92 EPS. As a group, analysts forecast that First Citizens BancShares will post 187.88 earnings per share for the current fiscal year.

Institutional Trading of First Citizens BancShares

Several hedge funds have recently made changes to their positions in FCNCA. Toronto Dominion Bank raised its stake in shares of First Citizens BancShares by 3,577.5% in the second quarter. Toronto Dominion Bank now owns 35,010 shares of the bank’s stock valued at $58,943,000 after acquiring an additional 34,058 shares in the last quarter. FMR LLC increased its holdings in First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after purchasing an additional 33,713 shares during the period. Zurich Insurance Group Ltd FI raised its position in First Citizens BancShares by 225.2% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock valued at $70,979,000 after purchasing an additional 29,194 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of First Citizens BancShares by 183,992.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock valued at $440,580,000 after buying an additional 23,919 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of First Citizens BancShares by 6,773.9% during the second quarter. Thrivent Financial for Lutherans now owns 23,921 shares of the bank’s stock worth $40,274,000 after buying an additional 23,573 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

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.