220 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Acquired by Choreo LLC

Choreo LLC purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 220 shares of the bank’s stock, valued at approximately $373,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC acquired a new stake in First Citizens BancShares in the first quarter valued at approximately $29,000. Mather Group LLC. bought a new stake in shares of First Citizens BancShares during the first quarter worth about $31,000. LRI Investments LLC bought a new position in First Citizens BancShares in the 1st quarter valued at about $33,000. V Square Quantitative Management LLC bought a new stake in First Citizens BancShares during the 2nd quarter worth approximately $35,000. Finally, Principal Securities Inc. bought a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $43,000. 61.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler lifted their target price on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Jefferies Financial Group began coverage on shares of First Citizens BancShares in a research report on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 target price for the company. Keefe, Bruyette & Woods increased their price objective on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Raymond James raised shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price target on the stock in a report on Tuesday, July 2nd. Finally, Barclays raised their price objective on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Five investment 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 a consensus target price of $1,920.82.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock opened at $1,871.32 on Tuesday. The business’s 50-day moving average price is $1,934.12 and its 200-day moving average price is $1,752.30. The firm has a market capitalization of $27.19 billion, a PE ratio of 10.39 and a beta of 0.82. First Citizens BancShares, Inc. has a 12 month low of $1,274.91 and a 12 month high of $2,174.80. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $50.87 earnings per share for the quarter, topping analysts’ consensus estimates of $44.91 by $5.96. First Citizens BancShares had a net margin of 18.19% and a return on equity of 14.84%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business posted $52.60 EPS. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 200.92 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $1.64 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $6.56 annualized dividend and a dividend yield of 0.35%. First Citizens BancShares’s dividend payout ratio is currently 3.64%.

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.