Barclays has revised its price target for First Citizens (FCNCA, Financial), reducing it from $2,568 to $2,400. This adjustment follows the company's first-quarter earnings report, which, although within its guided ranges, did not meet expectations. The bank's earnings were hindered by net interest income and fees that landed at the lower end of forecasts.
Despite the earnings shortfall, Barclays maintains an Equal Weight rating on First Citizens shares, indicating a neutral stance. The adjustment in the price target reflects the firm's evaluation of the bank's financial performance and future outlook.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 12 analysts, the average target price for First Citizens BancShares Inc (FCNCA, Financial) is $2,224.17 with a high estimate of $2,400.00 and a low estimate of $2,000.00. The average target implies an upside of 24.21% from the current price of $1,790.65. More detailed estimate data can be found on the First Citizens BancShares Inc (FCNCA) Forecast page.
Based on the consensus recommendation from 14 brokerage firms, First Citizens BancShares Inc's (FCNCA, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for First Citizens BancShares Inc (FCNCA, Financial) in one year is $2107.93, suggesting a upside of 17.72% from the current price of $1790.65. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the First Citizens BancShares Inc (FCNCA) Summary page.
