First Citizens Bancshares Inc (NASDAQ:FCNCA) shares have climbed more than 50% year to date.
The company is one of the "biggest potential winners" after the U.S. presidential elections, according to Deutsche Bank.
Analyst Bernard von-Gizycki initiated coverage of First Citizens Bancshares with a Buy rating and a price target of $2,600.
The First Citizens Bancshares Thesis: First Citizens has been a "serial acquirer" and is poised to benefit from the pro-growth, pro-business environment as it supports an uptick in bank M&A (mergers and acquisitions), von-Gizycki said in the initiation note.
Check out other analyst stock ratings.
5 Reasons For Optimism, Says Analyst
- First Citizens is poised to benefit from "a likely more favorable backdrop starting in 2025 and should benefit from deregulation efforts."
- It is well positioned to benefit from a ramp-up in capital markets activity, which will drive loan growth in the SVB Commercial segment.
- The company's capital levels are strong, which supports share repurchases
- There is an upside to the current net interest income estimates, "given asset sensitivity and moderating rate cut assumptions."
- First Citizens has balance sheet flexibility to navigate different rate environments.
FCNCA Price Action: Shares of First Citizens Bancshares are down 0.23% to $2,191.54 at the time of publication on Monday.
Read More:
• Trump Trade Sparks Biggest Financial Stock Inflows In 2 Years
Photo: Courtesy First Citizens
