First Citizens BancShares, Inc. (NASDAQ:FCNCA) Receives Average Recommendation of “Moderate Buy” from Analysts

First Citizens BancShares, Inc. (NASDAQ:FCNCA) has earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $2,290.75.

Several equities research analysts have recently weighed in on FCNCA shares. Keefe, Bruyette & Woods raised First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 target price on the stock in a research report on Tuesday, January 14th. Truist Financial started coverage on First Citizens BancShares in a research report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price on the stock. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, January 16th. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Barclays lifted their price target on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in shares of First Citizens BancShares in the 3rd quarter valued at approximately $39,000. GAMMA Investing LLC boosted its stake in shares of First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after buying an additional 35 shares in the last quarter. Quarry LP purchased a new stake in shares of First Citizens BancShares in the second quarter valued at approximately $126,000. Private Trust Co. NA boosted its stake in shares of First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after buying an additional 84 shares in the last quarter. Finally, UMB Bank n.a. purchased a new stake in shares of First Citizens BancShares in the third quarter valued at approximately $177,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,218.11 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $31.03 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.01 and a beta of 0.86. The business’s 50-day moving average is $2,169.63 and its two-hundred day moving average is $2,028.74. First Citizens BancShares has a 1 year low of $1,383.00 and a 1 year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the business posted $55.92 EPS. Analysts anticipate that First Citizens BancShares will post 187.95 earnings per share for the current fiscal year.

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.