First Citizens BancShares (NASDAQ:FCNCA) Downgraded by Deutsche Bank Aktiengesellschaft to “Hold”

First Citizens BancShares (NASDAQ:FCNCA) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday,Finviz reports. They presently have a $2,154.00 price target on the bank’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 12.13% from the company’s previous close.

A number of other research analysts have also recently weighed in on the company. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. UBS Group set a $2,325.00 price objective on First Citizens BancShares in a research report on Wednesday, February 4th. Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Piper Sandler lifted their price objective on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,206.25.

First Citizens BancShares Stock Performance

FCNCA opened at $1,920.96 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72. The company has a market cap of $22.93 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.42 and a beta of 0.65. The company’s 50 day moving average is $1,951.42 and its 200 day moving average is $1,942.79. First Citizens BancShares has a 12-month low of $1,515.79 and a 12-month high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. On average, equities research analysts predict that First Citizens BancShares will post 167.59 EPS for the current year.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 92 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were bought at an average price of $1,550.00 per share, with a total value of $142,600.00. Following the purchase, the chief executive officer owned 2,841 shares of the company’s stock, valued at $4,403,550. This trade represents a 3.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders purchased 258 shares of company stock worth $404,236. 14.63% of the stock is currently owned by company insiders.

Institutional Trading of First Citizens BancShares

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCNCA. Allworth Financial LP increased its stake in First Citizens BancShares by 21.7% in the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock worth $51,000 after acquiring an additional 5 shares during the last quarter. MBL Wealth LLC increased its stake in First Citizens BancShares by 0.8% in the 4th quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock worth $1,335,000 after acquiring an additional 5 shares during the last quarter. Alteri Wealth LLC increased its stake in First Citizens BancShares by 4.1% in the 3rd quarter. Alteri Wealth LLC now owns 154 shares of the bank’s stock worth $276,000 after acquiring an additional 6 shares during the last quarter. Fifth Third Bancorp increased its stake in First Citizens BancShares by 40.0% in the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after acquiring an additional 6 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in First Citizens BancShares by 0.6% in the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock worth $2,051,000 after acquiring an additional 6 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

About First Citizens BancShares

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.