First Citizens BancShares (NASDAQ:FCNCA) Stock Rating Lowered by StockNews.com

First Citizens BancShares (NASDAQ:FCNCA) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

FCNCA has been the subject of several other research reports. Wedbush dropped their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Truist Financial assumed coverage on First Citizens BancShares in a report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 price target on the stock. Barclays lifted their price objective on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. The Goldman Sachs Group upped their target price on shares of 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, UBS Group assumed 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 target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Hold” and a consensus price target of $2,290.75.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,225.00 on Friday. First Citizens BancShares has a 52-week low of $1,383.00 and a 52-week high of $2,412.93. 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 stock has a market cap of $31.13 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. The business has a fifty day moving average of $2,171.41 and a two-hundred day moving average of $2,035.98.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. As a group, research analysts anticipate that First Citizens BancShares will post 187.95 earnings per share for the current year.

Institutional Trading of First Citizens BancShares

A number of hedge funds have recently bought and sold shares of FCNCA. M&T Bank Corp grew its position in First Citizens BancShares by 0.8% during the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after acquiring an additional 5 shares during the period. Metis Global Partners LLC grew its holdings in shares of First Citizens BancShares by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after purchasing an additional 6 shares during the period. Brooklyn Investment Group lifted its position in First Citizens BancShares by 33.3% during the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock valued at $57,000 after buying an additional 7 shares in the last quarter. Tandem Capital Management Corp ADV increased its position in shares of First Citizens BancShares by 1.8% in the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after acquiring an additional 8 shares in the last quarter. Finally, Mount Lucas Management LP raised its stake in shares of First Citizens BancShares by 2.6% in the 3rd quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock valued at $580,000 after acquiring an additional 8 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

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.