First Citizens BancShares (NASDAQ:FCNCA) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares (NASDAQ:FCNCA) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $2,600.00 price target on the bank’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 22.58% from the stock’s previous close.

FCNCA has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Keefe, Bruyette & Woods cut First Citizens BancShares from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Wedbush cut their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,157.64.

First Citizens BancShares Stock Down 1.5 %

Shares of NASDAQ:FCNCA opened at $2,121.05 on Monday. The stock’s 50-day moving average price is $2,101.07 and its 200-day moving average price is $1,934.36. First Citizens BancShares has a 12-month low of $1,363.97 and a 12-month high of $2,388.78. The stock has a market capitalization of $29.67 billion, a P/E ratio of 12.15 and a beta of 0.83. 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 (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (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 the consensus estimate of $2.36 billion. During the same period last year, the business posted $55.92 earnings per share. On average, equities analysts anticipate that First Citizens BancShares will post 187.88 earnings per share for the current year.

Hedge Funds Weigh In On First Citizens BancShares

Large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in shares of First Citizens BancShares during the second quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new position in First Citizens BancShares in the 3rd quarter worth approximately $39,000. Gradient Investments LLC purchased a new position in First Citizens BancShares in the 2nd quarter worth approximately $52,000. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 35 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in First Citizens BancShares by 120.0% in the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after acquiring an additional 36 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

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.