First Citizens BancShares (NASDAQ:FCNCA) Stock Price Expected to Rise, Piper Sandler Analyst Says

First Citizens BancShares (NASDAQ:FCNCA) had its target price increased by equities research analysts at Piper Sandler from $2,100.00 to $2,250.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price would indicate a potential upside of 3.25% from the company’s current price.

FCNCA has been the topic of a number of other reports. Barclays increased their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday. Truist Financial initiated coverage on First Citizens BancShares in a research report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 target price on the stock. StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Friday, January 24th. UBS Group began coverage on shares of 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. Finally, JPMorgan Chase & Co. increased their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2,316.75.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $2,179.18 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares has a 12 month low of $1,438.08 and a 12 month high of $2,412.93. The company has a fifty day moving average price of $2,170.40 and a two-hundred day moving average price of $2,044.13. The company has a market cap of $30.49 billion, a PE ratio of 12.48, a P/E/G ratio of 1.03 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. Research analysts expect that First Citizens BancShares will post 187.95 earnings per share for the current year.

Institutional Investors Weigh In On First Citizens BancShares

Several institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates increased its holdings in shares of First Citizens BancShares by 5.1% during the 3rd quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock valued at $30,976,000 after acquiring an additional 811 shares during the last quarter. Balentine LLC acquired a new position in First Citizens BancShares in the 3rd quarter valued at $3,564,000. Hiddenite Capital Partners LP lifted its position in First Citizens BancShares by 14.1% during the 3rd quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock worth $5,946,000 after acquiring an additional 400 shares during the last quarter. Retireful LLC bought a new stake in First Citizens BancShares during the third quarter valued at about $801,000. Finally, Oliver Luxxe Assets LLC boosted its stake in First Citizens BancShares by 22.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock valued at $5,368,000 after purchasing an additional 537 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.