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

First Citizens BancShares (NASDAQ:FCNCA) had its price objective hoisted by equities researchers at Barclays from $1,850.00 to $1,950.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Barclays‘s price target would indicate a potential upside of 11.05% from the company’s previous close.

Several other analysts have also recently commented on the company. DA Davidson reiterated a “neutral” rating and set a $1,650.00 price target (up from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Wedbush reiterated an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a research report on Monday, January 29th. Piper Sandler cut First Citizens BancShares from an “overweight” rating to a “neutral” rating and upped their target price for the company from $1,850.00 to $1,950.00 in a report on Friday. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1,799.89.

First Citizens BancShares Stock Down 2.5 %

FCNCA traded down $44.40 on Friday, hitting $1,755.95. The company had a trading volume of 15,010 shares, compared to its average volume of 80,823. First Citizens BancShares has a 12-month low of $945.32 and a 12-month high of $1,810.03. The stock has a market capitalization of $25.50 billion, a price-to-earnings ratio of 2.22 and a beta of 0.89. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a fifty day moving average price of $1,578.09 and a 200-day moving average price of $1,477.46.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. Analysts predict that First Citizens BancShares will post 179.92 EPS for the current fiscal year.

Insider Activity at First Citizens BancShares

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 value of $935,454.00. Following the completion of the transaction, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 622 shares of First Citizens BancShares stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the acquisition, the chief executive officer now directly owns 97,609 shares of the company’s stock, valued at $128,355,835. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ellen R. Alemany sold 600 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 4,842 shares in the company, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,388 shares of company stock worth $1,825,220. Insiders own 13.40% of the company’s stock.

Institutional Trading of First Citizens BancShares

Several institutional investors and hedge funds have recently modified their holdings of the business. Lincoln National Corp lifted its stake in shares of First Citizens BancShares by 2.6% during the fourth quarter. Lincoln National Corp now owns 277 shares of the bank’s stock valued at $393,000 after buying an additional 7 shares during the period. Quadrant Capital Group LLC raised its stake in First Citizens BancShares by 4.4% during the fourth quarter. Quadrant Capital Group LLC now owns 165 shares of the bank’s stock worth $234,000 after purchasing an additional 7 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in First Citizens BancShares by 4.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 161 shares of the bank’s stock worth $229,000 after purchasing an additional 7 shares during the period. Park Avenue Securities LLC raised its stake in First Citizens BancShares by 1.6% during the first quarter. Park Avenue Securities LLC now owns 450 shares of the bank’s stock worth $736,000 after purchasing an additional 7 shares during the period. Finally, Lindbrook Capital LLC raised its stake in First Citizens BancShares by 53.3% during the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 61.18% of the company’s stock.

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.