First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Choreo LLC

Choreo LLC raised its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 221 shares of the bank’s stock after buying an additional 10 shares during the period. Choreo LLC’s holdings in First Citizens BancShares were worth $467,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FCNCA. M&T Bank Corp grew its position in shares of First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after purchasing an additional 5 shares during the period. Mather Group LLC. grew its holdings in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after buying an additional 5 shares during the period. Metis Global Partners LLC increased its stake in shares of First Citizens BancShares by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after acquiring an additional 6 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of First Citizens BancShares by 33.3% during the 4th quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock valued at $57,000 after acquiring an additional 7 shares during the last quarter. Finally, Tandem Capital Management Corp ADV lifted its holdings in shares of First Citizens BancShares by 1.8% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after acquiring an additional 8 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $2,155.94 on Wednesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 1-year low of $1,460.76 and a 1-year high of $2,412.93. The firm has a 50-day moving average of $2,148.13 and a two-hundred day moving average of $2,065.11. The stock has a market cap of $30.16 billion, a P/E ratio of 11.38, a PEG ratio of 1.00 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, research analysts expect that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FCNCA shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target on the stock. Barclays boosted their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Truist Financial raised their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.