Financial Life Planners Makes New Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Financial Life Planners purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 16 shares of the bank’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group purchased a new position in First Citizens BancShares during the 3rd quarter worth approximately $39,000. GAMMA Investing LLC increased its stake in shares of First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after acquiring an additional 35 shares during the period. Private Trust Co. NA lifted its position in First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after purchasing an additional 84 shares during the period. UMB Bank n.a. acquired a new position in First Citizens BancShares during the third quarter valued at $177,000. Finally, nVerses Capital LLC purchased a new stake in First Citizens BancShares in the third quarter valued at $184,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective for the company. Truist Financial boosted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. upped 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 report on Tuesday, January 7th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday. Finally, The Goldman Sachs Group lifted 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 report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,323.50.

First Citizens BancShares Stock Down 2.8 %

FCNCA stock opened at $2,142.01 on Tuesday. First Citizens BancShares, Inc. has a 52 week low of $1,438.08 and a 52 week high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a 50-day simple moving average of $2,160.31 and a 200-day simple moving average of $2,054.63. The stock has a market capitalization of $29.97 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.00 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data 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 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid 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 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.