Symphony Financial Services Inc. Buys Shares of 104 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Symphony Financial Services Inc. bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 104 shares of the bank’s stock, valued at approximately $220,000.

A number of other hedge funds also recently added to or reduced their stakes in FCNCA. Financial Life Planners bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at about $33,000. Hemington Wealth Management grew its holdings in First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after acquiring an additional 6 shares during the period. Duncker Streett & Co. Inc. acquired a new position in First Citizens BancShares during the fourth quarter worth about $36,000. Mather Group LLC. grew its holdings in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after acquiring an additional 5 shares during the period. Finally, Asset Planning Inc acquired a new position in First Citizens BancShares during the fourth quarter worth about $38,000. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Down 4.4 %

NASDAQ FCNCA opened at $1,901.91 on Wednesday. The stock’s 50 day moving average is $2,136.29 and its two-hundred day moving average is $2,073.03. 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 $25.82 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 0.94 and a beta of 0.85. First Citizens BancShares, Inc. has a 1-year low of $1,505.73 and a 1-year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping the consensus estimate 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 analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.41%. First Citizens BancShares’s payout ratio is 4.12%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. JPMorgan Chase & Co. increased their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group boosted 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 report on Tuesday, November 26th. Piper Sandler boosted their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,323.50.

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.