Keefe, Bruyette & Woods Reiterates Outperform Rating for First Citizens BancShares (NASDAQ:FCNCA)

First Citizens BancShares (NASDAQ:FCNCA)‘s stock had its “outperform” rating reissued by stock analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $2,100.00 target price on the bank’s stock, up from their previous target price of $1,900.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 19.69% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Barclays boosted their price target on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a report on Friday. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 target price on shares of First Citizens BancShares in a report on Monday, January 29th. UBS Group upped their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1,829.90.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,754.50 on Friday. The firm has a market cap of $25.48 billion, a PE ratio of 9.74 and a beta of 0.89. The firm has a fifty day moving average of $1,582.88 and a 200 day moving average of $1,480.23. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. First Citizens BancShares has a one year low of $945.32 and a one year high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a return on equity of 15.75% and a net margin of 18.22%. As a group, research analysts predict that First Citizens BancShares will post 179.92 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Olivia Britton Holding purchased 466 shares of the stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the transaction, the insider now owns 121,694 shares in the company, valued at approximately $160,027,610. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Hope Holding Bryant bought 300 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average price of $1,315.00 per share, with a total value of $394,500.00. Following the completion of the transaction, the insider now directly owns 1,978 shares of the company’s stock, valued at approximately $2,601,070. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Olivia Britton Holding bought 466 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average cost of $1,315.00 per share, for a total transaction of $612,790.00. Following the transaction, the insider now directly owns 121,694 shares of the company’s stock, valued at $160,027,610. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,388 shares of company stock valued at $1,825,220. 13.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FCNCA. Mather Group LLC. purchased a new stake in First Citizens BancShares during the first quarter worth about $31,000. Blue Trust Inc. boosted its stake in shares of First Citizens BancShares by 100.0% in the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after purchasing an additional 10 shares during the period. GAMMA Investing LLC purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $30,000. Lindbrook Capital LLC boosted its stake in shares of First Citizens BancShares by 53.3% in the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after purchasing an additional 8 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

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.