First Citizens BancShares (NASDAQ:FCNCA) Upgraded at UBS Group

First Citizens BancShares (NASDAQ:FCNCA) was upgraded by analysts at UBS Group to a “hold” rating in a report released on Monday, Zacks reports.

Several other equities analysts have also recently issued reports on FCNCA. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $2,300.00 price objective on shares of First Citizens BancShares in a report on Thursday, July 9th. Truist Financial boosted their price objective on First Citizens BancShares from $2,150.00 to $2,323.00 and gave the company a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded First Citizens BancShares from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of First Citizens BancShares from $2,350.00 to $2,450.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2,272.54.

First Citizens BancShares Stock Up 0.0%

Shares of FCNCA stock opened at $2,173.88 on Monday. The stock has a 50 day moving average of $2,169.56 and a 200 day moving average of $2,043.29. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.59. The stock has a market cap of $24.54 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.64 and a beta of 0.60. First Citizens BancShares has a twelve month low of $1,623.76 and a twelve month high of $2,296.30.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $56.68. First Citizens BancShares had a return on equity of 12.07% and a net margin of 16.28%.The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.16 billion. As a group, sell-side analysts expect that First Citizens BancShares will post 192.11 EPS for the current year.

Insider Buying and Selling

In other news, Director Diane Morais bought 50 shares of First Citizens BancShares stock in a transaction on Wednesday, August 19th. The stock was acquired at an average price of $2,168.11 per share, with a total value of $108,405.50. Following the completion of the acquisition, the director directly owned 100 shares of the company’s stock, valued at $216,811. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 14.63% of the company’s stock.

Institutional Investors Weigh In On First Citizens BancShares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its stake in First Citizens BancShares by 2.6% during the 1st quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock valued at $439,000 after acquiring an additional 6 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of First Citizens BancShares by 2.8% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 259 shares of the bank’s stock valued at $539,000 after purchasing an additional 7 shares during the last quarter. Cooper Financial Group lifted its position in First Citizens BancShares by 6.5% in the second quarter. Cooper Financial Group now owns 131 shares of the bank’s stock valued at $273,000 after buying an additional 8 shares during the last quarter. 44 Wealth Management LLC boosted its position in shares of First Citizens BancShares by 0.7% during the 4th quarter. 44 Wealth Management LLC now owns 1,238 shares of the bank’s stock worth $2,657,000 after purchasing an additional 9 shares during the period. Finally, Root Financial Partners LLC boosted its position in shares of First Citizens BancShares by 61.1% during the fourth quarter. Root Financial Partners LLC now owns 29 shares of the bank’s stock worth $62,000 after buying an additional 11 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the financial holding company for First-Citizens Bank & Trust Company, which operates under the First Citizens Bank name. Headquartered in Raleigh, North Carolina, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit cards, cash-management and treasury services, investment services, and wealth management.