First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Position Raised by Candriam S.C.A.

Candriam S.C.A. boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 21.9% during the 4th quarter, HoldingsChannel reports. The firm owned 528 shares of the bank’s stock after buying an additional 95 shares during the quarter. Candriam S.C.A.’s holdings in First Citizens BancShares were worth $1,116,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in shares of First Citizens BancShares during the 4th quarter valued at $33,000. Hemington Wealth Management raised its holdings in shares of 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 in the last quarter. Duncker Streett & Co. Inc. acquired a new stake in First Citizens BancShares during the fourth quarter valued at $36,000. Mather Group LLC. grew its stake in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares in the last quarter. Finally, Asset Planning Inc acquired a new position in First Citizens BancShares in the 4th quarter worth about $38,000. 78.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FCNCA. Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Barclays increased their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Piper Sandler lifted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $1,869.60 on Monday. The company’s fifty day moving average is $2,114.68 and its two-hundred day moving average is $2,069.30. First Citizens BancShares, Inc. has a 52-week low of $1,505.73 and a 52-week high of $2,412.93. 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 firm has a market capitalization of $25.38 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 0.94 and a beta of 0.81.

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

First Citizens BancShares Dividend Announcement

The company also recently disclosed 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 0.42%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

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.