Barclays Boosts First Citizens BancShares (NASDAQ:FCNCA) Price Target to $1,950.00

First Citizens BancShares (NASDAQ:FCNCA) had its price objective lifted by investment analysts at Barclays from $1,850.00 to $1,950.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s target price suggests a potential upside of 11.05% from the company’s current price.

A number of other analysts have also commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 price target on shares of First Citizens BancShares in a research note on Monday, January 29th. The Goldman Sachs Group initiated coverage on First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective for the company. DA Davidson reiterated a “neutral” rating and issued a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. UBS Group boosted their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $1,799.89.

First Citizens BancShares Stock Performance

Shares of FCNCA stock traded down $44.40 during trading on Friday, hitting $1,755.95. The company’s stock had a trading volume of 15,010 shares, compared to its average volume of 80,823. The business has a fifty day moving average of $1,578.09 and a 200-day moving average of $1,477.46. First Citizens BancShares has a 52 week low of $945.32 and a 52 week high of $1,810.03. The company has a market cap of $25.50 billion, a PE ratio of 2.22 and a beta of 0.89. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing the consensus estimate of $48.49 by ($1.91). The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. As a group, research analysts anticipate that First Citizens BancShares will post 179.92 earnings per share for the current year.

Insider Buying and Selling at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 622 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the transaction, the chief executive officer now directly owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the sale, the director now directly owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Frank B. Holding, Jr. bought 622 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the purchase, the chief executive officer now owns 97,609 shares of the company’s stock, valued at $128,355,835. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,388 shares of company stock worth $1,825,220. 13.40% of the stock is owned by insiders.

Hedge Funds Weigh In On First Citizens BancShares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its position in shares of First Citizens BancShares by 145.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank’s stock worth $1,995,000 after buying an additional 833 shares during the period. Mackenzie Financial Corp boosted its position in shares of First Citizens BancShares by 89.3% during the fourth quarter. Mackenzie Financial Corp now owns 1,914 shares of the bank’s stock worth $2,716,000 after buying an additional 903 shares during the period. Nordea Investment Management AB boosted its position in shares of First Citizens BancShares by 3,091.6% during the fourth quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock worth $34,203,000 after buying an additional 23,156 shares during the period. Reinhart Partners LLC. boosted its position in shares of First Citizens BancShares by 11.7% during the fourth quarter. Reinhart Partners LLC. now owns 56,803 shares of the bank’s stock worth $80,602,000 after buying an additional 5,952 shares during the period. Finally, Legal & General Group Plc raised its holdings in First Citizens BancShares by 49.1% during the third quarter. Legal & General Group Plc now owns 47,287 shares of the bank’s stock worth $65,261,000 after purchasing an additional 15,579 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

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.