Mraz Amerine & Associates Inc. Reduces Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mraz Amerine & Associates Inc. lowered its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,145 shares of the bank’s stock after selling 35 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in First Citizens BancShares were worth $2,419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Life Planners acquired a new stake in shares of First Citizens BancShares during the fourth quarter valued at $33,000. Hemington Wealth Management lifted its holdings in First Citizens BancShares by 60.0% in 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 in the last quarter. Mather Group LLC. boosted its stake in shares of First Citizens BancShares by 38.5% during the 4th 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. Asset Planning Inc purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth about $38,000. Finally, Brooklyn Investment Group acquired a new position in shares of First Citizens BancShares in the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods lifted their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. UBS Group started coverage on 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. Piper Sandler raised their price target 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 upped their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,323.50.

First Citizens BancShares Stock Up 1.6 %

FCNCA opened at $2,141.49 on Tuesday. First Citizens BancShares, Inc. has a 1 year low of $1,475.85 and a 1 year high of $2,412.93. The firm has a 50 day moving average price of $2,143.58 and a 200 day moving average price of $2,066.03. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company 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.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Sell-side analysts expect that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

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