Meitav Investment House Ltd. Purchases 167 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Meitav Investment House Ltd. boosted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 93.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 345 shares of the bank’s stock after buying an additional 167 shares during the quarter. Meitav Investment House Ltd.’s holdings in First Citizens BancShares were worth $729,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FCNCA. FMR LLC grew its position in shares of First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after purchasing an additional 33,713 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of First Citizens BancShares by 128.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock valued at $115,859,000 after acquiring an additional 30,828 shares during the period. International Assets Investment Management LLC grew its holdings in shares of First Citizens BancShares by 183,992.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock worth $440,580,000 after purchasing an additional 23,919 shares in the last quarter. Commerce Bank increased its position in shares of First Citizens BancShares by 4,762.2% in the third quarter. Commerce Bank now owns 21,345 shares of the bank’s stock worth $39,295,000 after purchasing an additional 20,906 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in First Citizens BancShares by 337.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank’s stock valued at $48,095,000 after purchasing an additional 20,149 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCNCA. Truist Financial increased their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. UBS Group began coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective for the company. The Goldman Sachs Group upped 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 note on Tuesday, November 26th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Finally, Barclays raised their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Trading Down 0.4 %

NASDAQ FCNCA opened at $2,156.78 on Thursday. The stock has a market capitalization of $30.17 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.96 and a beta of 0.85. The business’s fifty day moving average is $2,145.69 and its 200-day moving average is $2,068.13. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a one year low of $1,475.85 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS 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. Investors of record on Friday, February 28th will be paid a dividend of $1.95 per share. The ex-dividend date 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 4.12%.

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.