UBS Group Begins Coverage on First Citizens BancShares (NASDAQ:FCNCA)

UBS Group began coverage on shares of First Citizens BancShares (NASDAQ:FCNCA) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating on the bank’s stock.

Several other research analysts also recently weighed in on FCNCA. Keefe, Bruyette & Woods downgraded First Citizens BancShares from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. Citigroup raised shares of First Citizens BancShares from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Wedbush cut their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,157.64.

First Citizens BancShares Stock Performance

FCNCA traded down $27.99 during trading on Tuesday, reaching $2,095.45. 8,909 shares of the company’s stock were exchanged, compared to its average volume of 87,256. The company’s fifty day simple moving average is $2,117.01 and its 200-day simple moving average is $1,943.90. The stock has a market capitalization of $29.31 billion, a P/E ratio of 12.00 and a beta of 0.83. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares has a 1 year low of $1,363.97 and a 1 year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the firm posted $55.92 earnings per share. As a group, research analysts predict that First Citizens BancShares will post 187.88 earnings per share for the current fiscal year.

Institutional Trading of First Citizens BancShares

Institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new stake in First Citizens BancShares in the third quarter valued at $39,000. Blue Trust Inc. boosted its holdings in First Citizens BancShares by 120.0% during the second quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock worth $108,000 after buying an additional 36 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after acquiring an additional 35 shares during the period. National Bank of Canada FI boosted its stake in shares of First Citizens BancShares by 17.7% during the 2nd quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock worth $124,000 after acquiring an additional 11 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of First Citizens BancShares in the 2nd quarter worth approximately $126,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Company Profile

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.