4,429 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Acquired by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,429 shares of the bank’s stock, valued at approximately $9,359,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FCNCA. Financial Life Planners bought a new position in First Citizens BancShares in the fourth quarter valued at approximately $33,000. Hemington Wealth Management lifted its stake in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after buying an additional 6 shares in the last quarter. Mather Group LLC. lifted 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 buying an additional 5 shares in the last quarter. Asset Planning Inc bought a new position in First Citizens BancShares in the fourth quarter valued at approximately $38,000. Finally, Brooklyn Investment Group bought a new position in First Citizens BancShares in the third quarter valued at approximately $39,000. Institutional investors own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FCNCA. Keefe, Bruyette & Woods lifted 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 report on Monday, January 27th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush lowered their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $2,141.49 on Tuesday. First Citizens BancShares, Inc. has a one year low of $1,475.85 and a one year high of $2,412.93. The company has a market cap of $29.96 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.00 and a beta of 0.85. The firm’s fifty day moving average price is $2,143.58 and its two-hundred day moving average price is $2,066.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities analysts expect that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm 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 $1.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.36%. First Citizens BancShares’s 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.