Barclays Increases First Citizens BancShares (NASDAQ:FCNCA) Price Target to $1,950.00

First Citizens BancShares (NASDAQ:FCNCA) had its target price lifted by equities research analysts at Barclays from $1,850.00 to $1,950.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Barclays‘s price target indicates a potential upside of 11.14% from the stock’s previous close.

FCNCA has been the subject of a number of other reports. Piper Sandler downgraded shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $1,850.00 to $1,950.00 in a report on Friday. The Goldman Sachs Group assumed coverage on First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective for the company. DA Davidson reiterated a “neutral” rating and set a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Wedbush restated an “outperform” rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a research report on Monday, January 29th. Finally, StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1,829.90.

First Citizens BancShares Trading Down 2.5 %

Shares of FCNCA opened at $1,754.50 on Friday. First Citizens BancShares has a twelve month low of $945.32 and a twelve month high of $1,810.03. The stock has a market cap of $25.48 billion, a PE ratio of 9.74 and a beta of 0.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. The business’s 50-day moving average price is $1,582.88 and its 200-day moving average price is $1,480.23.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.75%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. On average, equities analysts forecast that First Citizens BancShares will post 179.92 EPS for the current fiscal year.

Insider Activity at First Citizens BancShares

In other news, major shareholder Olivia Britton Holding purchased 466 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the acquisition, the insider now directly owns 121,694 shares in the company, valued at $160,027,610. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Olivia Britton Holding purchased 466 shares of First Citizens BancShares stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the transaction, the insider now directly owns 121,694 shares of the company’s stock, valued at $160,027,610. The disclosure for this purchase can be found here. Insiders bought 1,388 shares of company stock worth $1,825,220 in the last three months. 13.40% of the stock is owned by insiders.

Institutional Trading of First Citizens BancShares

A number of hedge funds and other institutional investors have recently modified their holdings of FCNCA. Lincoln National Corp grew its stake in shares of First Citizens BancShares by 2.6% in the fourth quarter. Lincoln National Corp now owns 277 shares of the bank’s stock worth $393,000 after acquiring an additional 7 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in First Citizens BancShares by 4.4% in the 4th quarter. Quadrant Capital Group LLC now owns 165 shares of the bank’s stock worth $234,000 after purchasing an additional 7 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in First Citizens BancShares by 4.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 161 shares of the bank’s stock valued at $229,000 after purchasing an additional 7 shares during the last quarter. Park Avenue Securities LLC increased its stake in First Citizens BancShares by 1.6% during the 1st quarter. Park Avenue Securities LLC now owns 450 shares of the bank’s stock valued at $736,000 after purchasing an additional 7 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in First Citizens BancShares by 53.3% in the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after buying an additional 8 shares during the last quarter. 61.18% of the stock is owned by hedge funds and other institutional investors.

About First Citizens BancShares

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.