Wall Street Zen Upgrades First Citizens BancShares (NASDAQ:FCNCA) to Hold

First Citizens BancShares (NASDAQ:FCNCA) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other research firms have also commented on FCNCA. UBS Group set a $2,325.00 price target on shares of First Citizens BancShares in a report on Wednesday, February 4th. Citigroup reissued a “buy” rating on shares of First Citizens BancShares in a report on Monday, January 26th. Zacks Research downgraded First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research note on Monday, February 16th. Truist Financial raised their target price on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Finally, The Goldman Sachs Group downgraded First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,238.27.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $1,898.15 on Friday. First Citizens BancShares has a twelve month low of $1,473.62 and a twelve month high of $2,232.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72. The company has a market cap of $23.61 billion, a PE ratio of 11.45 and a beta of 0.70. The company’s 50 day moving average is $2,102.42 and its 200 day moving average is $1,955.99.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, beating the consensus estimate of $44.24 by $7.03. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. On average, sell-side analysts forecast that First Citizens BancShares will post 167.59 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Hilton Head Capital Partners LLC purchased a new stake in First Citizens BancShares in the 4th quarter worth $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of First Citizens BancShares in the third quarter valued at about $27,000. UMB Bank n.a. increased its stake in shares of First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after purchasing an additional 8 shares in the last quarter. Steph & Co. acquired a new position in shares of First Citizens BancShares during the 3rd quarter worth about $32,000. Finally, Root Financial Partners LLC purchased a new position in First Citizens BancShares in the 3rd quarter valued at about $32,000. 78.01% of the stock is owned by institutional investors and hedge funds.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.