QRG Capital Management Inc. Invests $201,000 in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

QRG Capital Management Inc. purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 95 shares of the bank’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCNCA. Hiddenite Capital Partners LP increased its holdings in First Citizens BancShares by 14.1% in the 3rd quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock valued at $5,946,000 after purchasing an additional 400 shares during the last quarter. Retireful LLC acquired a new stake in First Citizens BancShares in the 3rd quarter valued at approximately $801,000. JPMorgan Chase & Co. increased its holdings in First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after purchasing an additional 18,501 shares during the last quarter. Check Capital Management Inc. CA increased its holdings in First Citizens BancShares by 20.0% in the 4th quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock valued at $70,995,000 after purchasing an additional 5,605 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in First Citizens BancShares by 4.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank’s stock valued at $7,811,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,869.60 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a fifty day moving average price of $2,119.94 and a 200 day moving average price of $2,069.19. The company has a market cap of $25.38 billion, a P/E ratio of 9.87, a PEG ratio of 0.94 and a beta of 0.85. First Citizens BancShares, Inc. has a 12 month low of $1,505.73 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping 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%. Sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 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 0.42%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of several recent research reports. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. UBS Group initiated coverage on shares of 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. Barclays raised their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Piper Sandler raised their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Truist Financial raised their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

About First Citizens BancShares

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.