16 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Bought by Financial Life Planners

Financial Life Planners purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16 shares of the bank’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its stake in First Citizens BancShares by 11.6% during the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after acquiring an additional 33,713 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after purchasing an additional 18,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Citizens BancShares by 15.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after purchasing an additional 7,613 shares during the last quarter. Reinhart Partners LLC. lifted its position in shares of First Citizens BancShares by 2.1% in the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock worth $122,516,000 after buying an additional 1,183 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in First Citizens BancShares by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock valued at $86,812,000 after buying an additional 1,339 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FCNCA has been the topic of several recent research reports. Barclays upped their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday. Truist Financial upped 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. Finally, UBS Group began coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $2,323.50.

First Citizens BancShares Price Performance

FCNCA opened at $2,142.01 on Tuesday. The business has a fifty day moving average of $2,160.31 and a 200 day moving average of $2,054.63. The stock has a market cap of $29.97 billion, a P/E ratio of 11.31, a PEG 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, Inc. has a 52-week low of $1,438.08 and a 52-week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 165.15 EPS for the current year.

First Citizens BancShares Announces Dividend

The business 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. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 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.