First Citizens BancShares’ (FCNCA) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

First Citizens BancShares (NASDAQ:FCNCA)‘s stock had its “neutral” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a research report issued on Wednesday,Benzinga reports. They presently have a $2,200.00 price target on the bank’s stock, down from their previous price target of $2,450.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 15.50% from the stock’s current price.

FCNCA has been the subject of a number of other reports. Truist Financial raised their price target on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a report on Monday, January 26th. Barclays cut their price target on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a report on Monday, January 26th. Piper Sandler boosted their target price on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, The Goldman Sachs Group lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,211.00.

First Citizens BancShares Price Performance

First Citizens BancShares stock traded up $20.03 during mid-day trading on Wednesday, hitting $1,904.69. 37,626 shares of the company were exchanged, compared to its average volume of 107,853. First Citizens BancShares has a 1-year low of $1,473.62 and a 1-year high of $2,232.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. The business has a fifty day moving average of $1,968.65 and a 200 day moving average of $1,941.84. The company has a market capitalization of $22.74 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.37 and a beta of 0.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. As a group, sell-side analysts expect that First Citizens BancShares will post 167.59 earnings per share for the current year.

Insider Buying and Selling at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 92 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were purchased at an average price of $1,550.00 per share, with a total value of $142,600.00. Following the completion of the purchase, the chief executive officer owned 2,841 shares of the company’s stock, valued at $4,403,550. This represents a 3.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have purchased 258 shares of company stock worth $404,236 over the last ninety days. Insiders own 13.19% of the company’s stock.

Institutional Trading of First Citizens BancShares

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of First Citizens BancShares by 4.4% during the third quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock worth $778,785,000 after buying an additional 18,190 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in First Citizens BancShares by 117,518.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after acquiring an additional 205,658 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in First Citizens BancShares by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 124,061 shares of the bank’s stock valued at $266,273,000 after acquiring an additional 492 shares in the last quarter. Morgan Stanley boosted its position in First Citizens BancShares by 31.8% during the 4th quarter. Morgan Stanley now owns 123,048 shares of the bank’s stock worth $264,087,000 after acquiring an additional 29,681 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of First Citizens BancShares by 11.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,317 shares of the bank’s stock worth $262,514,000 after acquiring an additional 12,303 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full?service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.