First Citizens rises after Truist lifts PT
Truist raises target price on First Citizens
Regional lender First Citizens Bancshares' FCNCA.O shares rose 2.5% to $2,188.56 after Truist Securities lifted its price target on the stock to $2,323 from $2,150, which implies an 8.7% upside to the stock's last close.
The brokerage expects 2027 net interest income (NII) and fees to be slightly better than before, based on recent momentum and more loans repricing to catch up with deposits.
"The key debate is whether FCNCA has indeed passed the NII bottom as the 3Q and 4Q guides imply accelerating sequential improvements," Truist analyst Brian Foran said.
"The hope for bulls is that loan repricing catching up to deposits, broad-based loan momentum, and some help from BMO's low-cost deposits all support this positive inflection story into 2027," he added.
Three of 13 brokerages rate the stock "buy" and 10 "hold"; the median price target is $2,324, according to data compiled by LSEG.
As of the last close, FCNCA stock was down 0.4% year to date.
