Assenagon Asset Management S.A. Has $2.74 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Assenagon Asset Management S.A. reduced its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 63.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,295 shares of the bank’s stock after selling 2,249 shares during the quarter. Assenagon Asset Management S.A.’s holdings in First Citizens BancShares were worth $2,736,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of First Citizens BancShares during the 3rd quarter worth about $39,000. GAMMA Investing LLC grew its position in shares of First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after purchasing an additional 35 shares during the period. Quarry LP acquired a new position in shares of First Citizens BancShares in the 2nd quarter valued at approximately $126,000. Private Trust Co. NA grew its position in shares of First Citizens BancShares by 2,100.0% in the 3rd 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. Finally, UMB Bank n.a. acquired a new position in shares of First Citizens BancShares in the 3rd quarter valued at approximately $177,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $2,231.14 on Wednesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s fifty day moving average price is $2,168.53 and its two-hundred day moving average price is $2,027.40. First Citizens BancShares, Inc. has a one year low of $1,383.00 and a one year high of $2,388.78. The firm has a market cap of $31.21 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.01 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the business posted $55.92 EPS. On average, equities analysts forecast that First Citizens BancShares, Inc. will post 187.95 EPS for the current year.

Analysts Set New Price Targets

FCNCA has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wedbush cut their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Truist Financial initiated coverage on First Citizens BancShares in a research note on Tuesday, January 7th. They issued a “hold” rating and a $2,303.00 target price on the stock. UBS Group initiated coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $2,290.75.

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.