First Citizens BancShares (NASDAQ:FCNCA) Upgraded to “Hold” by 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.

Shares of First Citizens BancShares stock opened at $425.87 on Friday. The firm has a market cap of $4.33 billion, a PE ratio of 10.38 and a beta of 1.38. The business’s 50 day simple moving average is $398.33 and its 200 day simple moving average is $408.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.83. First Citizens BancShares has a 52-week low of $276.08 and a 52-week high of $542.12.

A number of institutional investors have recently added to or reduced their stakes in FCNCA. Signaturefd LLC grew its stake 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 purchasing an additional 60 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of First Citizens BancShares by 6.8% in the 1st quarter. M&T Bank Corp now owns 1,011 shares of the bank’s stock valued at $336,000 after buying an additional 64 shares during the last quarter. DC Investments Management LLC grew its stake in shares of First Citizens BancShares by 9.0% in the first quarter. DC Investments Management LLC now owns 1,016 shares of the bank’s stock valued at $338,000 after buying an additional 84 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in First Citizens BancShares by 9.2% during the first quarter. Meeder Asset Management Inc. now owns 1,061 shares of the bank’s stock worth $354,000 after buying an additional 89 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in First Citizens BancShares by 10,100.0% during the first quarter. Tower Research Capital LLC TRC now owns 102 shares of the bank’s stock worth $34,000 after acquiring an additional 101 shares in the last quarter. 42.79% of the stock is 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 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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