First Citizens BancShares (NASDAQ:FCNCA) Rating Lowered to “Sell” at StockNews.com

First Citizens BancShares (NASDAQ:FCNCA) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday. Wedbush decreased their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group boosted their price objective 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2,290.75.

First Citizens BancShares Stock Down 1.1 %

Shares of FCNCA traded down $22.86 during mid-day trading on Wednesday, reaching $2,094.00. The company’s stock had a trading volume of 51,711 shares, compared to its average volume of 65,322. The company has a market cap of $29.29 billion, a price-to-earnings ratio of 12.00 and a beta of 0.86. The business has a fifty day moving average of $2,153.54 and a 200 day moving average of $1,995.31. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. 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 posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the company earned $55.92 earnings per share. As a group, analysts forecast that First Citizens BancShares will post 188.21 earnings per share for the current fiscal year.

Institutional Trading of First Citizens BancShares

Several institutional investors and hedge funds have recently made changes to their positions in the business. Oliver Luxxe Assets LLC grew its position in shares of First Citizens BancShares by 6.7% during the 4th quarter. Oliver Luxxe Assets LLC now owns 3,111 shares of the bank’s stock worth $6,574,000 after buying an additional 195 shares during the period. Everence Capital Management Inc. acquired a new position in First Citizens BancShares during the fourth quarter valued at approximately $655,000. GAMMA Investing LLC increased its stake in First Citizens BancShares by 16.1% in the fourth quarter. GAMMA Investing LLC now owns 72 shares of the bank’s stock valued at $152,000 after purchasing an additional 10 shares in the last quarter. Trust Co of the South raised its holdings in First Citizens BancShares by 136.8% in the fourth quarter. Trust Co of the South now owns 947 shares of the bank’s stock worth $2,001,000 after purchasing an additional 547 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after purchasing an additional 18,501 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

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.