First Citizens BancShares (NASDAQ:FCNCA) Stock Price Expected to Rise, Barclays Analyst Says

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) had its price target increased by Barclays from $2,250.00 to $2,456.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the bank's stock. Barclays's target price would indicate a potential upside of 14.25% from the stock's previous close.

Other research analysts have also issued reports about the company. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. UBS Group initiated coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Wedbush cut 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 report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective for the company. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares has a consensus rating of "Hold" and an average price target of $2,262.36.

First Citizens BancShares Trading Down 0.0 %

First Citizens BancShares stock traded down $0.87 during trading on Monday, hitting $2,149.75. The company's stock had a trading volume of 92,818 shares, compared to its average volume of 63,173. The stock's fifty day moving average is $2,150.04 and its 200 day moving average is $1,991.99. First Citizens BancShares has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. The stock has a market capitalization of $30.07 billion, a price-to-earnings ratio of 12.32 and a beta of 0.86. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts' consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the company earned $55.92 EPS. As a group, equities research analysts predict that First Citizens BancShares will post 187.88 EPS for the current year.

Hedge Funds Weigh In On First Citizens BancShares

Several hedge funds and other institutional investors have recently modified their holdings of FCNCA. M&T Bank Corp boosted its position in shares of First Citizens BancShares by 0.8% during the third quarter. M&T Bank Corp now owns 607 shares of the bank's stock worth $1,117,000 after buying an additional 5 shares during the period. Wedbush Securities Inc. boosted its position in First Citizens BancShares by 0.5% during the 2nd quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank's stock worth $2,019,000 after acquiring an additional 6 shares during the period. Metis Global Partners LLC grew its stake in shares of First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank's stock worth $237,000 after purchasing an additional 6 shares in the last quarter. Tandem Capital Management Corp ADV increased its holdings in shares of First Citizens BancShares by 1.8% during the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank's stock valued at $845,000 after purchasing an additional 8 shares during the period. Finally, Mount Lucas Management LP raised its stake in shares of First Citizens BancShares by 2.6% during the third quarter. Mount Lucas Management LP now owns 315 shares of the bank's stock valued at $580,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 78.01% 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.