First Citizens price target lowered to $2,100 from $2,400 at JPMorgan

JPMorgan lowered the firm’s price target on First Citizens (FCNCA) to $2,100 from $2,400 and keeps an Overweight rating on the shares as part of a Q3 earnings preview for the small- and mid-cap banks. It expects bank fundamental trends to be highlighted by solid loan and deposit growth as well as increasing net interest margins. This note corrects the price target and rating from a prior report.