First Citizens BancShares (NASDAQ:FCNCA) Price Target Increased to $1,950.00 by Analysts at Barclays

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) had its price target lifted by Barclays from $1,850.00 to $1,950.00 in a report released on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the bank's stock. Barclays's target price suggests a potential upside of 11.14% from the stock's current price.

Several other research analysts also recently commented on the company. Piper Sandler downgraded First Citizens BancShares from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $1,850.00 to $1,950.00 in a research note on Friday. DA Davidson reissued a "neutral" rating and issued a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. UBS Group increased their price objective on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a "buy" rating in a research note on Tuesday, January 30th. Wedbush reissued an "outperform" rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a research note on Monday, January 29th. Finally, The Goldman Sachs Group initiated coverage on First Citizens BancShares in a research note on Thursday, March 21st. They issued a "buy" rating and a $1,950.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $1,829.90.

First Citizens BancShares Stock Performance

First Citizens BancShares stock traded down $45.85 during mid-day trading on Friday, hitting $1,754.50. The company had a trading volume of 107,436 shares, compared to its average volume of 82,044. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. First Citizens BancShares has a 12-month low of $945.32 and a 12-month high of $1,810.03. The company's fifty day moving average is $1,578.09 and its 200-day moving average is $1,477.46. The company has a market capitalization of $25.48 billion, a price-to-earnings ratio of 2.25 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) 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). The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. Equities research analysts predict that First Citizens BancShares will post 179.92 EPS for the current year.

Insider Buying and Selling at First Citizens BancShares

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

Institutional Trading of First Citizens BancShares

A number of institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its holdings in shares of First Citizens BancShares by 145.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank's stock worth $1,995,000 after acquiring an additional 833 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of First Citizens BancShares by 89.3% in the fourth quarter. Mackenzie Financial Corp now owns 1,914 shares of the bank's stock worth $2,716,000 after acquiring an additional 903 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of First Citizens BancShares by 3,091.6% in the fourth quarter. Nordea Investment Management AB now owns 23,905 shares of the bank's stock worth $34,203,000 after acquiring an additional 23,156 shares during the last quarter. Reinhart Partners LLC. raised its holdings in shares of First Citizens BancShares by 11.7% in the fourth quarter. Reinhart Partners LLC. now owns 56,803 shares of the bank's stock worth $80,602,000 after acquiring an additional 5,952 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of First Citizens BancShares by 49.1% in the third quarter. Legal & General Group Plc now owns 47,287 shares of the bank's stock worth $65,261,000 after acquiring an additional 15,579 shares during the last quarter. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

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.