UBS lowered the firm’s price target on First Citizens (FCNCA) to $2,325 from $2,500 and keeps a Buy rating on the shares. Mid-cap banks have delivered strong results and avoided early Q4 credit concerns. Investor momentum into regional banks is expected to continue, supported by curve steepening, accelerating loan growth, and M&A activity such as Santander’s (SAN) acquisition of Webster (WBS).
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCNCA:
- Park National completes merger transaction with First Citizens Bancshares
- First Citizens price target raised to $2,100 from $2,000 at Piper Sandler
- First Citizens price target raised to $2,150 from $2,050 at Truist
- First Citizens price target lowered to $2,500 from $2,600 at TD Cowen
- First Citizens price target lowered to $2,100 from $2,250 at Citi