Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for First Citizens BancShares (NASDAQ:FCNCA) Stock

First Citizens BancShares (NASDAQ:FCNCA) had its target price upped by investment analysts at Keefe, Bruyette & Woods from $2,500.00 to $2,600.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 19.31% from the company’s current price.

A number of other analysts also recently issued reports on FCNCA. The Goldman Sachs Group raised their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. UBS Group began coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. Wedbush lowered their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Barclays increased their target price on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, First Citizens BancShares presently has an average rating of “Hold” and an average target price of $2,316.75.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $2,179.18 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50-day moving average of $2,170.40 and a 200-day moving average of $2,044.13. First Citizens BancShares has a one year low of $1,438.08 and a one year high of $2,412.93. The company has a market cap of $30.49 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.03 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. Equities research analysts forecast that First Citizens BancShares will post 187.95 EPS for the current fiscal year.

Institutional Trading of First Citizens BancShares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV boosted its holdings in shares of First Citizens BancShares by 17.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 218 shares of the bank’s stock worth $367,000 after purchasing an additional 32 shares during the period. MBB Public Markets I LLC purchased a new stake in First Citizens BancShares in the 2nd quarter worth approximately $1,280,000. The Manufacturers Life Insurance Company grew its position in shares of First Citizens BancShares by 22.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,682 shares of the bank’s stock worth $9,566,000 after buying an additional 1,050 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of First Citizens BancShares during the second quarter valued at approximately $273,000. Finally, Creative Planning raised its holdings in shares of First Citizens BancShares by 4.5% during the second quarter. Creative Planning now owns 1,089 shares of the bank’s stock valued at $1,834,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 78.01% 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.