Wedbush initiated coverage on First Citizens BancShares with a new price target
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Wedbush initiated coverage of First Citizens BancShares with a rating of Outperform and set a new price target of $1,700.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/24/2024 | $2450.00 → $2150.00 | Outperform → Neutral | Wedbush |
| 7/9/2024 | $2005.00 | Buy | Jefferies |
| 7/2/2024 | $1900.00 | Mkt Perform → Outperform | Raymond James |
| 4/26/2024 | $1850.00 → $1950.00 | Overweight → Neutral | Piper Sandler |
| 4/11/2024 | $1850.00 | Equal Weight | Barclays |
| 3/21/2024 | $1950.00 | Buy | Goldman |
| 11/28/2023 | Mkt Perform | Raymond James | |
| 10/5/2023 | $1700.00 | Outperform | Wedbush |
First Citizens BancShares (NASDAQ:FCNCA) reported quarterly earnings of $50.87 per share which beat the analyst consensus estimate of $44.78 by 13.6 percent. This is a 3.29 percent decrease over earnings of $52.60 per share from the same period last year. The company reported quarterly sales of $2.300 billion which missed the analyst consensus estimate of $2.328 billion by 1.22 percent. This is a 17.29 percent increase over sales of $1.961 billion the same period last year.
First Citizens BancShares (NASDAQ:FCNCA) has outperformed the market over the past 5 years by 18.41% on an annualized basis producing an average annual return of 31.28%. Currently, First Citizens BancShares has a market capitalization of $26.63 billion. Buying $1000 In FCNCA: If an investor had bought $1000 of FCNCA stock 5 years ago, it would be worth $3,952.79 today based on a price of $1832.79 for FCNCA at the time of writing. First Citizens BancShares's Performance Over Last 5 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article wa
Financing provided by SVB's Enterprise Software Group SAN FRANCISCO, Oct. 31, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced it has provided a $50 million growth capital facility to Bugcrowd, a leading provider of crowdsourced cybersecurity solutions. Bugcrowd brings the collective ingenuity of organizations and hackers to mitigate vulnerabilities across all applications, systems, and infrastructure. Provided by SVB's Enterprise Software Group, the new financing will further scale Bugcrowd's AI-powered platform globally, fun
NEW YORK, Oct. 29, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business is introducing a new tax equity investment product to help finance renewable energy projects. Tax equity products enable qualified investors to reap the benefits of various tax incentives aimed at promoting the development of renewable energy. As an industry leader in renewable energy financing, First Citizens Energy Finance is well positioned to expand its product capabilities, which will now include tax equity investments. "This new tax equity investment product allow
RALEIGH, N.C., Oct. 28, 2024 /PRNewswire/ -- First Citizens Wealth, the wealth management division of First Citizens Bank, today published new results from its "Beyond Wealth" study that offer fresh insights about affluent business owners. Key findings include: A bare majority (52%) of affluent business owners say they know exactly how much their business is worth. And a large share of those (44%) aren't confident in that assessment.Less than half of affluent business owners (47%) say they have a plan for exiting their business, while only a third (33%) feel very prepared to exit. One in five (20%) affluent business owners plan to leave their business in the next five years, with one third (
Wedbush downgraded First Citizens BancShares from Outperform to Neutral and set a new price target of $2,150.00 from $2,450.00 previously
Jefferies initiated coverage of First Citizens BancShares with a rating of Buy and set a new price target of $2,005.00
Raymond James upgraded First Citizens BancShares from Mkt Perform to Outperform and set a new price target of $1,900.00
4 - FIRST CITIZENS BANCSHARES INC /DE/ (0000798941) (Issuer)
4 - FIRST CITIZENS BANCSHARES INC /DE/ (0000798941) (Issuer)
4 - FIRST CITIZENS BANCSHARES INC /DE/ (0000798941) (Issuer)
4 - FIRST CITIZENS BANCSHARES INC /DE/ (0000798941) (Issuer)
4 - FIRST CITIZENS BANCSHARES INC /DE/ (0000798941) (Issuer)
4 - FIRST CITIZENS BANCSHARES INC /DE/ (0000798941) (Issuer)
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SC 13G/A - FIRST CITIZENS BANCSHARES INC /DE/ (0000798941) (Subject)
8-K - FIRST CITIZENS BANCSHARES INC /DE/ (0000798941) (Filer)
S-3ASR - FIRST CITIZENS BANCSHARES INC /DE/ (0000798941) (Filer)
8-K - FIRST CITIZENS BANCSHARES INC /DE/ (0000798941) (Filer)
RALEIGH, N.C., Oct. 24, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) reported earnings for the third quarter of 2024. Chairman and CEO Frank B. Holding, Jr. said: "We posted another quarter of strong financial results, largely in line with our expectations. Loan growth remained resilient in both the General Bank and Commercial Bank segments, while loans in the SVB Commercial segment declined as Global Fund Banking repayment levels outpaced draw activity. We experienced another quarter of deposit growth, mostly concentrated in our Branch Ne
RALEIGH, N.C., Oct. 24, 2024 /PRNewswire/ -- The Board of Directors of First Citizens BancShares, Inc. (NASDAQ:FCNCA) has declared the following dividends on the company's common and preferred stock, in each case to be paid on Dec. 16, 2024, to holders of record as of Nov. 29, 2024: A quarterly common stock dividend of $1.95 per share on the company's Class A and Class B common stock – which is an increase from the previous quarter's common stock dividend of $1.64 per share. A regular quarterly dividend of $13.4375 per share on the company's 5.375% non-cumulative perpetual p
RALEIGH, N.C., Oct. 2, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ:FCNCA) today announced that it will report its financial results for the quarter ended September 30, 2024, before the U.S. financial markets open on Thursday, October 24, 2024. A conference call and webcast will be held to discuss BancShares' financial results at 9 a.m. Eastern time on the same day. The conference call and webcast may contain forward-looking statements and other material information. To pre-register for the call via webcast (recommended), please visit: https://ev
Michelle Draper, former Silicon Valley Bank CMO and 30-year financial industry veteran, to lead marketing and client experience RALEIGH, N.C., Oct. 17, 2024 /PRNewswire/ -- First Citizens Bank today announced the appointment of Michelle Draper to Chief Marketing Officer (CMO). Most recently, Draper served as Chief Marketing and Sales Strategy Officer of Silicon Valley Bank (SVB), a division of First Citizens Bank. In her role serving the First Citizens enterprise, Draper leads a marketing organization nationwide dedicated to building upon the company's customer-centric vision
RALEIGH, N.C., June 4, 2024 /PRNewswire/ -- First Citizens BancShares Inc. (NASDAQ:FCNCA), parent company of First Citizens Bank, today was named for the first time to the Fortune 500™ list of the largest companies in the United States by revenue. First Citizens ranked #182 overall on the 2024 list, underscoring its status as one of the nation's premier banking and financial services institutions. In addition, the bank was listed at #24 on Fortune's 2024 list of fastest-growing companies. "At First Citizens, we are deeply committed to supporting clients with high-quality, reli
RALEIGH, N.C., Jan. 22, 2024 /PRNewswire/ -- First Citizens Bank announced today the appointment of James Bennett as executive director of External Affairs. In this newly created position, Bennett, a seasoned First Citizens banker, is now responsible for nationwide community engagement as well as strengthening relationships with state and federal government officials, members of Congress, trade groups and other public policy stakeholders. His new position was effective Jan. 1, 2024. He reports to Chairman and CEO Frank B. Holding, Jr. "We are glad to have James' leadership in