First Citizens BancShares (NASDAQ:FCNCA) Earns Neutral Rating from DA Davidson

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report)'s stock had its "neutral" rating reaffirmed by DA Davidson in a report issued on Monday, Benzinga reports. They presently have a $1,650.00 target price on the bank's stock, up from their previous target price of $1,600.00. DA Davidson's price objective indicates a potential upside of 7.31% from the company's previous close.

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

First Citizens BancShares Stock Down 2.0 %

NASDAQ FCNCA traded down $31.57 during trading hours on Monday, reaching $1,537.60. 65,464 shares of the company's stock were exchanged, compared to its average volume of 81,895. The company's 50-day moving average is $1,559.12 and its two-hundred day moving average is $1,464.18. First Citizens BancShares has a one year low of $945.32 and a one year high of $1,651.73. 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 company has a market capitalization of $22.33 billion, a price-to-earnings ratio of 1.96 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly 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 the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. On average, analysts forecast that First Citizens BancShares will post 178.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Hope Holding Bryant bought 300 shares of the stock in a transaction on Wednesday, February 21st. The stock was acquired at an average price of $1,315.00 per share, with a total value of $394,500.00. Following the acquisition, the insider now directly owns 1,978 shares in the company, valued at $2,601,070. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder Olivia Britton Holding bought 466 shares of the stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the acquisition, the insider now directly owns 121,694 shares in the company, valued at $160,027,610. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Hope Holding Bryant bought 300 shares of the stock in a transaction on Wednesday, February 21st. The stock was purchased at an average cost of $1,315.00 per share, with a total value of $394,500.00. Following the acquisition, the insider now owns 1,978 shares in the company, valued at $2,601,070. The disclosure for this purchase can be found here. Insiders acquired a total of 1,388 shares of company stock worth $1,825,220 in the last ninety days. 12.85% of the stock is owned by insiders.

Institutional Investors Weigh In On First Citizens BancShares

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in First Citizens BancShares by 100.0% during the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank's stock worth $27,000 after purchasing an additional 10 shares during the period. GAMMA Investing LLC bought a new position in First Citizens BancShares in the fourth quarter worth approximately $30,000. Mather Group LLC. bought a new position in First Citizens BancShares in the first quarter worth approximately $31,000. Castleview Partners LLC bought a new position in First Citizens BancShares in the second quarter worth approximately $31,000. Finally, Lindbrook Capital LLC boosted its holdings in First Citizens BancShares by 53.3% in the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank's stock worth $32,000 after acquiring an additional 8 shares in the last quarter. Institutional investors and hedge funds 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.