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

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also commented on FCNCA. JPMorgan Chase & Co. raised their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price objective for the company. Piper Sandler boosted their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a "neutral" rating in a research report on Monday, January 27th. Finally, UBS Group began coverage on shares of 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. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,323.50.

First Citizens BancShares Stock Performance

FCNCA traded up $7.71 during trading hours on Friday, hitting $2,149.72. The company's stock had a trading volume of 44,757 shares, compared to its average volume of 74,139. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares has a fifty-two week low of $1,438.08 and a fifty-two week high of $2,412.93. The company has a 50-day simple moving average of $2,156.79 and a 200 day simple moving average of $2,056.87. The firm has a market capitalization of $30.07 billion, a PE ratio of 11.35, a PEG ratio of 1.00 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, sell-side analysts expect that First Citizens BancShares will post 165.15 EPS for the current year.

Hedge Funds Weigh In On First Citizens BancShares

A number of institutional investors have recently made changes to their positions in FCNCA. The Manufacturers Life Insurance Company boosted its holdings in First Citizens BancShares by 22.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,682 shares of the bank's stock valued at $9,566,000 after purchasing an additional 1,050 shares during the period. Creative Planning lifted its stake in shares of First Citizens BancShares by 4.5% in the second quarter. Creative Planning now owns 1,089 shares of the bank's stock valued at $1,834,000 after buying an additional 47 shares during the period. Sanctuary Advisors LLC acquired a new stake in First Citizens BancShares during the second quarter worth about $6,934,000. Park Avenue Securities LLC increased its stake in First Citizens BancShares by 9.4% during the third quarter. Park Avenue Securities LLC now owns 395 shares of the bank's stock valued at $728,000 after acquiring an additional 34 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in First Citizens BancShares by 17.6% during the third quarter. Handelsbanken Fonder AB now owns 2,672 shares of the bank's stock valued at $4,919,000 after acquiring an additional 400 shares during the period. 78.01% of the stock is currently owned by institutional investors.

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.