Stonegate Investment Group LLC Acquires 12 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Stonegate Investment Group LLC increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279 shares of the bank’s stock after acquiring an additional 12 shares during the period. Stonegate Investment Group LLC’s holdings in First Citizens BancShares were worth $590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp raised its position in shares of First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares during the last quarter. Metis Global Partners LLC increased its stake in First Citizens BancShares by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after purchasing an additional 6 shares in the last quarter. Brooklyn Investment Group raised its holdings in First Citizens BancShares by 33.3% in the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock worth $57,000 after buying an additional 7 shares during the last quarter. Tandem Capital Management Corp ADV lifted its stake in shares of First Citizens BancShares by 1.8% in the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after buying an additional 8 shares in the last quarter. Finally, Mount Lucas Management LP grew its holdings in shares of First Citizens BancShares by 2.6% during the third quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock valued at $580,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a report on Monday. Wedbush decreased their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. The Goldman Sachs Group boosted their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2,316.75.

First Citizens BancShares Trading Down 0.1 %

Shares of FCNCA stock opened at $2,179.18 on Wednesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $30.49 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.03 and a beta of 0.86. First Citizens BancShares, Inc. has a 1 year low of $1,438.08 and a 1 year high of $2,412.93. The firm has a fifty day moving average price of $2,170.40 and a 200-day moving average price of $2,044.13.

First Citizens BancShares (NASDAQ:FCNCA) last released 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 13.63% and a net margin of 17.36%. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 187.95 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. Shareholders of record on Friday, February 28th will be given a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. First Citizens BancShares’s payout ratio is currently 4.47%.

First Citizens BancShares 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.