First Citizens BancShares (NASDAQ:FCNCA) Price Target Raised to $2,250.00 at Piper Sandler

First Citizens BancShares (NASDAQ:FCNCA) had its price objective raised by equities research analysts at Piper Sandler from $2,100.00 to $2,250.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price target suggests a potential upside of 2.06% from the stock’s current price.

A number of other analysts have also recently commented on FCNCA. Wedbush reduced their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price on the stock. The Goldman Sachs Group upped their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Truist Financial assumed coverage on shares of First Citizens BancShares in a report on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2,316.75.

First Citizens BancShares Stock Down 0.9 %

FCNCA traded down $20.46 during trading on Monday, hitting $2,204.54. 15,652 shares of the company’s stock traded hands, compared to its average volume of 70,611. First Citizens BancShares has a 12-month low of $1,438.08 and a 12-month high of $2,412.93. The company’s 50 day simple moving average is $2,171.41 and its two-hundred day simple moving average is $2,038.04. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $30.84 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.03 and a beta of 0.86.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. M&T Bank Corp grew its stake in shares of First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after buying an additional 5 shares in the last quarter. Mather Group LLC. raised its position in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the period. Metis Global Partners LLC increased its stake in shares of First Citizens BancShares by 4.9% during the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after buying an additional 6 shares during the period. Brooklyn Investment Group lifted its stake in First Citizens BancShares by 33.3% in the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock worth $57,000 after acquiring an additional 7 shares during the period. Finally, Tandem Capital Management Corp ADV boosted its stake in shares of First Citizens BancShares by 1.8% during the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock valued at $845,000 after purchasing an additional 8 shares in the last quarter. 78.01% 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.