First Citizens BancShares (NASDAQ:FCNCA) Stock Price Up 7%

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) rose 7% during mid-day trading on Thursday . The company traded as high as $1,767.01 and last traded at $1,754.15. Approximately 43,439 shares traded hands during trading, a decline of 46% from the average daily volume of 80,008 shares. The stock had previously closed at $1,639.63.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. StockNews.com downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Wednesday, April 3rd. The Goldman Sachs Group began coverage on First Citizens BancShares in a research report on Thursday, March 21st. They issued a "buy" rating and a $1,950.00 price target for the company. Wedbush reaffirmed an "outperform" rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a research report on Monday, January 29th. Barclays assumed coverage on First Citizens BancShares in a research note on Thursday, April 11th. They issued an "equal weight" rating and a $1,850.00 target price on the stock. Finally, UBS Group increased their price target on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a "buy" rating in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $1,768.63.

First Citizens BancShares Stock Performance

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 company has a market capitalization of $26.14 billion, a PE ratio of 2.29 and a beta of 0.89. The business has a 50 day simple moving average of $1,572.77 and a 200 day simple moving average of $1,475.21.

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

Insider Buying and Selling

In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of the business's 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 completion of the transaction, the director now directly owns 4,842 shares of the company's stock, valued at $7,549,113.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Hope Holding Bryant purchased 300 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $394,500.00. Following the transaction, the insider now directly owns 1,978 shares in the company, valued at $2,601,070. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ellen R. Alemany sold 600 shares of the firm'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 transaction, the director now directly owns 4,842 shares in the company, valued at $7,549,113.78. The disclosure for this sale can be found here. Insiders bought 1,388 shares of company stock valued at $1,825,220 over the last quarter. 13.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Citizens BancShares

A number of hedge funds have recently made changes to their positions in the company. Lincoln National Corp raised its holdings in shares of First Citizens BancShares by 2.6% during the 4th quarter. Lincoln National Corp now owns 277 shares of the bank's stock worth $393,000 after acquiring an additional 7 shares during the period. Quadrant Capital Group LLC increased 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 acquiring an additional 7 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in First Citizens BancShares by 4.5% in the fourth 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 period. Park Avenue Securities LLC lifted its stake in shares of First Citizens BancShares by 1.6% in 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 during the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of First Citizens BancShares by 53.3% during the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank's stock valued at $32,000 after acquiring an additional 8 shares during the last quarter. Institutional investors and hedge funds own 61.18% 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.