First Citizens BancShares (NASDAQ:FCNCA) Given New $2,200.00 Price Target at The Goldman Sachs Group

First Citizens BancShares (NASDAQ:FCNCA) had its target price cut by stock analysts at The Goldman Sachs Group from $2,535.00 to $2,200.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 21.11% from the company’s current price.

A number of other research analysts have also weighed in on FCNCA. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Barclays upped their target price on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods boosted their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, JPMorgan Chase & Co. upped their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,288.08.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA traded down $20.14 during trading hours on Tuesday, reaching $1,816.53. The stock had a trading volume of 16,809 shares, compared to its average volume of 83,366. The stock has a market cap of $24.66 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The stock has a 50 day simple moving average of $2,071.82 and a 200 day simple moving average of $2,060.21. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares has a 12-month low of $1,518.00 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, research analysts forecast that First Citizens BancShares will post 167.59 EPS for the current fiscal year.

Insider Buying and Selling

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the acquisition, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 13.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Citizens BancShares

Institutional investors and hedge funds have recently modified their holdings of the stock. Financial Life Planners bought a new stake in shares of First Citizens BancShares in the 4th quarter worth $33,000. Hemington Wealth Management raised its position in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after buying an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. bought a new position in First Citizens BancShares during the 4th quarter valued at about $36,000. Mather Group LLC. boosted its holdings in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in shares of First Citizens BancShares in the fourth quarter worth approximately $38,000. 78.01% of the stock is currently owned by institutional investors.

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.