First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,456.00 at Barclays

First Citizens BancShares (NASDAQ:FCNCA) had its price target increased by equities research analysts at Barclays from $2,250.00 to $2,456.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s price objective suggests a potential upside of 13.49% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lowered their price target on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target for the company. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $2,262.36.

First Citizens BancShares Stock Up 0.6 %

Shares of First Citizens BancShares stock traded up $13.39 on Monday, hitting $2,164.01. The company had a trading volume of 36,311 shares, compared to its average volume of 41,902. The stock has a 50-day moving average of $2,145.56 and a 200-day moving average of $1,986.05. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares has a twelve month low of $1,363.97 and a twelve month high of $2,388.78. The firm has a market capitalization of $30.27 billion, a P/E ratio of 12.40 and a beta of 0.86.

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

Hedge Funds Weigh In On First Citizens BancShares

A number of large investors have recently made changes to their positions in the company. FMR LLC increased its position in First Citizens BancShares by 11.6% during the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after acquiring an additional 33,713 shares during the period. JPMorgan Chase & Co. raised its stake in First Citizens BancShares by 6.8% in 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 grew its stake in First Citizens BancShares by 15.0% during 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 buying an additional 7,613 shares in the last quarter. Reinhart Partners LLC. increased its holdings in First Citizens BancShares by 0.7% in the 3rd quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank’s stock valued at $104,562,000 after buying an additional 416 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position 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. Institutional investors 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.