Stratos Wealth Partners LTD. Lowers Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Stratos Wealth Partners LTD. cut its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169 shares of the bank’s stock after selling 17 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in First Citizens BancShares were worth $358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FCNCA. Financial Life Planners bought a new stake in First Citizens BancShares during the fourth quarter valued at about $33,000. Mather Group LLC. increased its holdings 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 worth $38,000 after purchasing an additional 5 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of First Citizens BancShares in the third quarter worth about $39,000. GAMMA Investing LLC increased its holdings in shares of First Citizens BancShares by 16.1% in the fourth quarter. GAMMA Investing LLC now owns 72 shares of the bank’s stock worth $152,000 after purchasing an additional 10 shares during the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after purchasing an additional 84 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush reduced their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Piper Sandler boosted their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, The Goldman Sachs Group boosted their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA opened at $2,125.31 on Thursday. The company has a market capitalization of $29.73 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. First Citizens BancShares, Inc. has a 52 week low of $1,460.76 and a 52 week high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average of $2,146.68 and a 200 day moving average of $2,065.53.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 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, sell-side analysts predict that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s payout ratio is presently 4.12%.

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.