First Citizens BancShares (NASDAQ:FCNCA) Lowered to “Market Perform” Rating by Keefe, Bruyette & Woods

First Citizens BancShares (NASDAQ:FCNCA) was downgraded by equities research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. They presently have a $2,500.00 target price on the bank’s stock, up from their previous target price of $2,100.00. Keefe, Bruyette & Woods’ target price points to a potential upside of 13.13% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group increased their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. cut their price target on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Wedbush cut their price target 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2,113.40.

First Citizens BancShares Stock Down 0.6 %

NASDAQ FCNCA opened at $2,209.89 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock’s 50 day moving average is $2,068.18 and its two-hundred day moving average is $1,920.18. The company has a market capitalization of $30.91 billion, a price-to-earnings ratio of 12.66 and a beta of 0.83. First Citizens BancShares has a 1-year low of $1,363.97 and a 1-year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the firm posted $55.92 earnings per share. Equities analysts forecast that First Citizens BancShares will post 187.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Citizens BancShares

Hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers raised its position in shares of First Citizens BancShares by 301.3% in the first quarter. Cetera Investment Advisers now owns 1,244 shares of the bank’s stock valued at $2,034,000 after buying an additional 934 shares in the last quarter. Cetera Advisors LLC bought a new position in First Citizens BancShares in the first quarter valued at approximately $391,000. CWM LLC increased its stake in First Citizens BancShares by 33.5% in the second quarter. CWM LLC now owns 275 shares of the bank’s stock valued at $463,000 after acquiring an additional 69 shares during the last quarter. OLD National Bancorp IN increased its stake in First Citizens BancShares by 6.3% in the second quarter. OLD National Bancorp IN now owns 288 shares of the bank’s stock valued at $485,000 after acquiring an additional 17 shares during the last quarter. Finally, Sendero Wealth Management LLC bought a new position in First Citizens BancShares in the second quarter valued at approximately $7,088,000. 61.18% of the stock is currently owned by institutional investors and hedge funds.

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.