First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV boosted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 321 shares of the bank’s stock after purchasing an additional 7 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in First Citizens BancShares were worth $678,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Financial Life Planners acquired a new stake in First Citizens BancShares during the 4th quarter valued at approximately $33,000. Hemington Wealth Management boosted its position in First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during the period. Mather Group LLC. grew its position in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after acquiring an additional 5 shares during the last quarter. Asset Planning Inc bought a new position in First Citizens BancShares in the 4th quarter worth about $38,000. Finally, Brooklyn Investment Group bought a new position in First Citizens BancShares in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 1.6 %

Shares of FCNCA stock opened at $2,141.49 on Tuesday. First Citizens BancShares, Inc. has a 12 month low of $1,475.85 and a 12 month high of $2,412.93. The stock has a 50 day moving average of $2,143.58 and a 200-day moving average of $2,066.03. The firm has a market cap of $29.96 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

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

First Citizens BancShares Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.12%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Wedbush cut their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. UBS Group began coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price for the company. Keefe, Bruyette & Woods increased their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Barclays increased their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, First Citizens BancShares has an average rating of “Moderate Buy” and an average target price 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.