First Citizens BancShares (NASDAQ:FCNCA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

First Citizens BancShares (NASDAQ:FCNCA) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $2,550.00 to $2,600.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 24.16% from the stock’s current price.

FCNCA has been the subject of several other reports. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Truist Financial initiated coverage on shares of First Citizens BancShares in a research report on Tuesday. They set a “hold” rating and a $2,303.00 price target for the company. UBS Group initiated coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective on the stock. The Goldman Sachs Group upped 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 report on Tuesday, November 26th. Finally, Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2,290.75.

First Citizens BancShares Trading Down 1.1 %

FCNCA stock opened at $2,094.00 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market cap of $29.29 billion, a price-to-earnings ratio of 12.00 and a beta of 0.86. The business has a fifty day simple moving average of $2,153.54 and a 200-day simple moving average of $1,995.31. First Citizens BancShares has a 52 week low of $1,363.97 and a 52 week high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations 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 earnings per share. On average, equities research analysts expect that First Citizens BancShares will post 188.21 EPS for the current year.

Hedge Funds Weigh In On First Citizens BancShares

A number of hedge funds have recently bought and sold shares of FCNCA. Brooklyn Investment Group acquired a new stake in shares of First Citizens BancShares during the third quarter worth $39,000. GAMMA Investing LLC lifted its holdings in First Citizens BancShares by 129.6% in the third 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. National Bank of Canada FI boosted its stake in First Citizens BancShares by 17.7% in the second quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock valued at $124,000 after acquiring an additional 11 shares during the period. Quarry LP bought a new position in shares of First Citizens BancShares during the second quarter valued at approximately $126,000. Finally, Private Trust Co. NA raised its position in shares of First Citizens BancShares by 2,100.0% during the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after purchasing an additional 84 shares during the period. 78.01% 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.