Weekly Investment Analysts’ Ratings Changes for First Citizens BancShares (FCNCA)

First Citizens BancShares (NASDAQ: FCNCA) recently received a number of ratings updates from brokerages and research firms:

• 4/19/2022 – First Citizens BancShares was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/11/2022 – First Citizens BancShares was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/11/2022 – First Citizens BancShares was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “First Citizens is a bank holding company engaged in general banking business. The Bank is the fifth largest commercial bank in North Carolina based upon total deposits. Its growth has been generated principally by acquisitions and de novo branching that have occurred under the leadership of the R.P. Holding family. “
• 4/5/2022 – First Citizens BancShares was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “First Citizens is a bank holding company engaged in general banking business. The Bank is the fifth largest commercial bank in North Carolina based upon total deposits. Its growth has been generated principally by acquisitions and de novo branching that have occurred under the leadership of the R.P. Holding family. “
• 3/31/2022 – First Citizens BancShares is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 3/29/2022 – First Citizens BancShares was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “First Citizens is a bank holding company engaged in general banking business. The Bank is the fifth largest commercial bank in North Carolina based upon total deposits. Its growth has been generated principally by acquisitions and de novo branching that have occurred under the leadership of the R.P. Holding family. “
• 3/25/2022 – First Citizens BancShares had its price target lowered by analysts at Piper Sandler from $1,000.00 to $900.00.

NASDAQ FCNCA traded down $22.32 during midday trading on Tuesday, hitting $617.18. The company had a trading volume of 2,571 shares, compared to its average volume of 163,115. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $9.86 billion, a PE ratio of 11.45 and a beta of 1.10. The stock has a fifty day moving average of $699.83. First Citizens BancShares, Inc. has a fifty-two week low of $611.47 and a fifty-two week high of $947.71.

First Citizens BancShares (NASDAQ:FCNCA – Get Rating) last released its quarterly earnings data on Wednesday, January 26th. The bank reported $12.09 EPS for the quarter, topping analysts’ consensus estimates of ($3.54) by $15.63. The company had revenue of $471.66 million during the quarter, compared to the consensus estimate of $446.60 million. First Citizens BancShares had a net margin of 27.95% and a return on equity of 13.07%. During the same period last year, the firm earned $13.59 EPS. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 66.18 EPS for the current year.

In other news, CFO Craig L. Nix purchased 129 shares of the business’s stock in a transaction that occurred on Thursday, January 27th. The stock was purchased at an average cost of $770.24 per share, with a total value of $99,360.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffery L. Ward purchased 172 shares of the business’s stock in a transaction that occurred on Monday, January 31st. The shares were purchased at an average cost of $749.66 per share, with a total value of $128,941.52. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,471 shares of company stock valued at $402,090 over the last three months. 13.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC acquired a new stake in shares of First Citizens BancShares during the 1st quarter worth approximately $28,000. Dark Forest Capital Management LP acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth approximately $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $37,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of First Citizens BancShares during the 1st quarter worth approximately $37,000. Finally, Fifth Third Bancorp acquired a new stake in shares of First Citizens BancShares during the 1st quarter worth approximately $43,000. 62.59% of the stock is owned by institutional investors.

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.

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