First Citizens BancShares (NASDAQ:FCNCA) Given “Neutral” Rating at DA Davidson

First Citizens BancShares (NASDAQ:FCNCA)‘s stock had its “neutral” rating reaffirmed by research analysts at DA Davidson in a report released on Monday, Benzinga reports. They presently have a $1,650.00 target price on the bank’s stock, up from their prior target price of $1,600.00. DA Davidson’s price objective indicates a potential upside of 7.67% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. UBS Group lifted their price objective on shares of 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. Barclays assumed coverage on shares of First Citizens BancShares in a research note on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 price objective for the company. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Wedbush reaffirmed 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 started 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 objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $1,768.63.

First Citizens BancShares Stock Down 0.3 %

Shares of NASDAQ:FCNCA opened at $1,532.51 on Monday. 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 cap of $22.25 billion, a PE ratio of 1.95 and a beta of 0.89. First Citizens BancShares has a 52 week low of $945.32 and a 52 week high of $1,651.73. The firm has a 50 day simple moving average of $1,560.11 and a 200 day simple moving average of $1,465.25.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, research analysts expect that First Citizens BancShares will post 178.72 earnings per share for the current year.

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 622 shares of the stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the purchase, the chief executive officer now owns 97,609 shares of the company’s stock, valued at $128,355,835. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Frank B. Holding, Jr. bought 622 shares of the stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the purchase, the chief executive officer now owns 97,609 shares of the company’s stock, valued at $128,355,835. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ellen R. Alemany sold 600 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the sale, the director now directly owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. Insiders have acquired 1,388 shares of company stock worth $1,825,220 over the last ninety days. Company insiders own 12.85% of the company’s stock.

Institutional Investors Weigh In On First Citizens BancShares

Several large investors have recently made changes to their positions in FCNCA. Lincoln National Corp lifted its stake in First Citizens BancShares by 2.6% in the fourth quarter. Lincoln National Corp now owns 277 shares of the bank’s stock valued at $393,000 after acquiring an additional 7 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake 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 acquiring an additional 7 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in First Citizens BancShares by 4.4% in the fourth quarter. Quadrant Capital Group LLC now owns 165 shares of the bank’s stock valued at $234,000 after acquiring an additional 7 shares during the last quarter. Park Avenue Securities LLC lifted its stake in First Citizens BancShares by 1.6% in the first quarter. Park Avenue Securities LLC now owns 450 shares of the bank’s stock valued at $736,000 after acquiring an additional 7 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in First Citizens BancShares by 53.3% in 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 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.