JPMorgan Chase & Co. Issues Pessimistic Forecast for First Citizens BancShares (NASDAQ:FCNCA) Stock Price

First Citizens BancShares (NASDAQ:FCNCAGet Free Report) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $2,200.00 to $2,150.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 10.10% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on FCNCA. Deutsche Bank Aktiengesellschaft cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective for the company. in a research note on Wednesday, April 8th. UBS Group set a $2,325.00 price objective on shares of First Citizens BancShares in a research note on Wednesday, February 4th. Citigroup reissued a “neutral” rating on shares of First Citizens BancShares in a research report on Friday. Zacks Research raised shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,218.75.

View Our Latest Stock Report on First Citizens BancShares

First Citizens BancShares Trading Down 1.2%

Shares of First Citizens BancShares stock traded down $23.64 during trading on Friday, reaching $1,952.74. The company’s stock had a trading volume of 33,700 shares, compared to its average volume of 100,295. First Citizens BancShares has a 52-week low of $1,623.76 and a 52-week high of $2,232.21. The company has a market cap of $23.32 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.52 and a beta of 0.65. The firm’s 50-day moving average is $1,932.11 and its two-hundred day moving average is $1,957.27. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCAGet Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the company earned $37.79 EPS. On average, sell-side analysts anticipate that First Citizens BancShares will post 178.89 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. acquired 134 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $1,550.00 per share, for a total transaction of $207,700.00. Following the acquisition, the chief executive officer owned 2,749 shares of the company’s stock, valued at $4,260,950. This trade represents a 5.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have acquired 258 shares of company stock valued at $404,236. 14.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd bought a new position in First Citizens BancShares in the 1st quarter worth $3,145,000. Venturi Wealth Management LLC raised its holdings in First Citizens BancShares by 2.6% in the 1st quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock worth $439,000 after purchasing an additional 6 shares in the last quarter. Tanager Wealth Management LLP bought a new position in First Citizens BancShares in the 1st quarter worth $780,000. Live Oak Private Wealth LLC raised its holdings in First Citizens BancShares by 5.0% in the 1st quarter. Live Oak Private Wealth LLC now owns 3,465 shares of the bank’s stock worth $6,531,000 after purchasing an additional 166 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in First Citizens BancShares by 53.8% in the 1st quarter. Blue Trust Inc. now owns 40 shares of the bank’s stock worth $75,000 after purchasing an additional 14 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares News Summary

Here are the key news stories impacting First Citizens BancShares this week:

About First Citizens BancShares

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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.

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