Choreo LLC Acquires 10 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Choreo LLC raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 221 shares of the bank’s stock after purchasing an additional 10 shares during the period. Choreo LLC’s holdings in First Citizens BancShares were worth $467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FCNCA. Financial Life Planners bought a new position in First Citizens BancShares in the fourth quarter worth approximately $33,000. Mather Group LLC. raised its holdings in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the period. Brooklyn Investment Group purchased a new position in First Citizens BancShares during the third quarter valued at $39,000. GAMMA Investing LLC grew its holdings in First Citizens BancShares by 16.1% during the fourth quarter. GAMMA Investing LLC now owns 72 shares of the bank’s stock valued at $152,000 after purchasing an additional 10 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of First Citizens BancShares by 2,100.0% in the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,155.94 on Wednesday. The business’s 50-day moving average is $2,148.13 and its two-hundred day moving average is $2,065.11. 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 firm has a market capitalization of $30.16 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.00 and a beta of 0.85. First Citizens BancShares, Inc. has a 1 year low of $1,460.76 and a 1 year high of $2,412.93.

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

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $1.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.36%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FCNCA. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial increased their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Wedbush lowered their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods increased their price objective on 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. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,323.50.

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.