The Goldman Sachs Group Increases First Citizens BancShares (NASDAQ:FCNCA) Price Target to $2,625.00

First Citizens BancShares (NASDAQ:FCNCA) had its price target raised by equities researchers at The Goldman Sachs Group from $2,025.00 to $2,625.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 12.13% from the stock’s previous close.

FCNCA has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced 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 research note on Friday, October 25th. Wedbush reduced their price target 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 report on Friday, October 25th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Barclays boosted their target price on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, First Citizens BancShares presently has an average rating of “Moderate Buy” and a consensus target price of $2,093.40.

First Citizens BancShares Trading Down 0.5 %

Shares of FCNCA stock opened at $2,341.02 on Tuesday. The company has a market capitalization of $32.75 billion, a P/E ratio of 13.41 and a beta of 0.80. 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 quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a 50-day moving average price of $2,016.00 and a 200 day moving average price of $1,893.32.

First Citizens BancShares (NASDAQ:FCNCA) last posted 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 during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $55.92 EPS. Research analysts forecast that First Citizens BancShares will post 187.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Citizens BancShares

A number of hedge funds and other institutional investors have recently bought and sold shares of FCNCA. LRI Investments LLC bought a new position in First Citizens BancShares during the first quarter worth about $33,000. V Square Quantitative Management LLC bought a new position in First Citizens BancShares during the 2nd quarter worth approximately $35,000. Brooklyn Investment Group acquired a new position in First Citizens BancShares during the third quarter valued at approximately $39,000. Gradient Investments LLC bought a new stake in First Citizens BancShares in the second quarter valued at approximately $52,000. Finally, Blue Trust Inc. raised its holdings in First Citizens BancShares by 120.0% in the second quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after purchasing an additional 36 shares during the period. 61.18% of the stock is owned by institutional investors.

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.