Metis Global Partners LLC Acquires 9 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Metis Global Partners LLC raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138 shares of the bank’s stock after acquiring an additional 9 shares during the quarter. Metis Global Partners LLC’s holdings in First Citizens BancShares were worth $292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Life Planners bought a new stake in shares of First Citizens BancShares in the fourth quarter worth about $33,000. Hemington Wealth Management increased its holdings in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares during the last quarter. Mather Group LLC. increased its holdings 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 purchasing an additional 5 shares during the last quarter. Asset Planning Inc bought a new stake in shares of First Citizens BancShares in the fourth quarter worth about $38,000. Finally, Brooklyn Investment Group bought a new stake in shares of First Citizens BancShares in the third quarter worth about $39,000. 78.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FCNCA. Barclays lifted their target price 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, January 27th. Piper Sandler lifted their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods lifted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. UBS Group began coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft began 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $1,847.81 on Friday. The company has a 50 day moving average price of $2,126.05 and a 200-day moving average price of $2,070.74. 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 $1,505.73 and a fifty-two week high of $2,412.93. The company has a market capitalization of $25.09 billion, a PE ratio of 9.75, a P/E/G ratio of 0.94 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share 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%. As a group, equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

First Citizens BancShares Company 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.