Charles Schwab Investment Management Inc. Acquires 568 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Charles Schwab Investment Management Inc. boosted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,724 shares of the bank’s stock after purchasing an additional 568 shares during the period. Charles Schwab Investment Management Inc.’s holdings in First Citizens BancShares were worth $100,842,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in First Citizens BancShares during the fourth quarter worth about $33,000. Hemington Wealth Management raised its stake in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. bought a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $36,000. Mather Group LLC. raised its stake in shares of First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares during the last quarter. Finally, Asset Planning Inc bought a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $38,000. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 1.2 %

Shares of FCNCA opened at $1,869.60 on Monday. First Citizens BancShares, Inc. has a 52 week low of $1,505.73 and a 52 week high of $2,412.93. The firm has a market cap of $25.38 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The firm’s 50-day simple moving average is $2,114.68 and its 200 day simple moving average is $2,069.30. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping 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, analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. First Citizens BancShares’s dividend payout ratio is 4.12%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price for the company. Finally, Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

About First Citizens BancShares

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.