Janney Montgomery Scott LLC Purchases 29 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Janney Montgomery Scott LLC grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,789 shares of the bank’s stock after acquiring an additional 29 shares during the quarter. Janney Montgomery Scott LLC’s holdings in First Citizens BancShares were worth $8,006,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its position 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 purchasing an additional 33,713 shares in the last quarter. JPMorgan Chase & Co. raised its position in First Citizens BancShares by 6.8% in 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in First Citizens BancShares by 15.0% during the 3rd 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 buying an additional 7,613 shares during the period. Reinhart Partners LLC. grew its stake 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 purchasing an additional 1,183 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of First Citizens BancShares by 2.9% in the 3rd 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. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 0.1 %

Shares of FCNCA opened at $2,179.18 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a fifty-two week low of $1,438.08 and a fifty-two week high of $2,412.93. The firm has a 50 day moving average price of $2,170.40 and a 200-day moving average price of $2,044.13. The firm 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 (NASDAQ:FCNCA) last posted 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 net margin of 17.36% and a return on equity of 13.63%. As a group, equities research analysts forecast that First Citizens BancShares, Inc. will post 187.95 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.36%. First Citizens BancShares’s payout ratio is 4.47%.

Analyst Ratings Changes

A number of analysts have weighed in on FCNCA shares. Barclays increased their price target 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. Keefe, Bruyette & Woods raised their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday. Truist Financial began coverage on shares of First Citizens BancShares in a report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 price objective on the stock. Wedbush reduced their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2,316.75.

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.