Solidarity Wealth LLC Takes $1.69 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Solidarity Wealth LLC acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 800 shares of the bank’s stock, valued at approximately $1,690,000.

Several other institutional investors have also modified their holdings of the business. American Century Companies Inc. lifted its stake in First Citizens BancShares by 40.1% in the 2nd quarter. American Century Companies Inc. now owns 6,404 shares of the bank’s stock valued at $10,782,000 after acquiring an additional 1,832 shares in the last quarter. Federated Hermes Inc. lifted its stake in First Citizens BancShares by 127.9% in the 2nd quarter. Federated Hermes Inc. now owns 335 shares of the bank’s stock valued at $564,000 after acquiring an additional 188 shares in the last quarter. Edgestream Partners L.P. bought a new stake in First Citizens BancShares in the 2nd quarter valued at approximately $557,000. Amalgamated Bank lifted its stake in First Citizens BancShares by 135.1% in the 2nd quarter. Amalgamated Bank now owns 1,535 shares of the bank’s stock valued at $2,584,000 after acquiring an additional 882 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of First Citizens BancShares by 17.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 218 shares of the bank’s stock worth $367,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FCNCA. Truist Financial began coverage on First Citizens BancShares in a research report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 price target on the stock. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, January 16th. Wedbush decreased their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Keefe, Bruyette & Woods raised First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 target price on the stock in a report on Tuesday, January 14th. Finally, UBS Group began coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,290.75.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,188.94 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $30.62 billion, a PE ratio of 12.54, a P/E/G ratio of 1.01 and a beta of 0.86. First Citizens BancShares, Inc. has a 12 month low of $1,371.77 and a 12 month high of $2,388.78. The stock has a 50-day moving average price of $2,167.41 and a two-hundred day moving average price of $2,023.61.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same period in the previous year, the company posted $55.92 EPS. Analysts expect that First Citizens BancShares, Inc. will post 187.95 EPS for the current year.

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.