Paradigm Asset Management Co. LLC Buys New Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Paradigm Asset Management Co. LLC purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, Holdings Channel.com reports. The fund purchased 300 shares of the bank’s stock, valued at approximately $634,000.

A number of other large investors also recently modified their holdings of the company. Financial Life Planners acquired a new stake in First Citizens BancShares in the 4th quarter valued at $33,000. Hemington Wealth Management lifted its stake 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 purchasing an additional 6 shares in the last quarter. Mather Group LLC. boosted its position in shares of First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares during the period. Asset Planning Inc acquired a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $38,000. Finally, Brooklyn Investment Group purchased a new stake in shares of First Citizens BancShares during the 3rd quarter valued at about $39,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FCNCA. Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Piper Sandler boosted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $2,049.25 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $28.67 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 0.96 and a beta of 0.85. First Citizens BancShares, Inc. has a one year low of $1,500.94 and a one year high of $2,412.93. The company’s 50-day simple moving average is $2,145.78 and its 200-day simple moving average is $2,069.58.

First Citizens BancShares (NASDAQ:FCNCA) last issued 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 anticipate that First Citizens BancShares, Inc. will post 167.59 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 0.38%. First Citizens BancShares’s payout ratio is 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.