First Citizens BancShares (NASDAQ:FCNCA) Upgraded by StockNews.com to Hold Rating

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Thursday.

Other equities analysts have also issued research reports about the stock. Citigroup lowered shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upped their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a "buy" rating and a $2,600.00 target price for the company. Barclays raised their target price on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Finally, Wedbush decreased their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,290.75.

First Citizens BancShares Trading Up 0.2 %

NASDAQ FCNCA traded up $3.49 during mid-day trading on Thursday, reaching $2,156.01. 59,960 shares of the stock were exchanged, compared to its average volume of 66,676. The stock has a market capitalization of $30.16 billion, a PE ratio of 12.35, a PEG ratio of 0.96 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 has a 1-year low of $1,363.97 and a 1-year high of $2,388.78. The business's fifty day simple moving average is $2,167.03 and its 200 day simple moving average is $2,012.73.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). The business had revenue of $2.45 billion for the quarter, compared to analyst estimates 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 business earned $55.92 EPS. On average, research analysts anticipate that First Citizens BancShares will post 186.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FCNCA. Brooklyn Investment Group bought a new stake in First Citizens BancShares in the third quarter worth about $39,000. GAMMA Investing LLC raised its holdings in shares of First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank's stock worth $114,000 after purchasing an additional 35 shares in the last quarter. Quarry LP acquired a new stake in First Citizens BancShares during the second quarter valued at approximately $126,000. Private Trust Co. NA lifted its stake in First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank's stock valued at $162,000 after purchasing an additional 84 shares during the last quarter. Finally, UMB Bank n.a. acquired a new position in First Citizens BancShares in the third quarter worth approximately $177,000. 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.