Yousif Capital Management LLC Purchases 15 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Yousif Capital Management LLC lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 188 shares of the bank’s stock after purchasing an additional 15 shares during the period. Yousif Capital Management LLC’s holdings in First Citizens BancShares were worth $397,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Raymond James & Associates increased its position in shares of First Citizens BancShares by 5.1% in the third quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock valued at $30,976,000 after acquiring an additional 811 shares during the period. Balentine LLC bought a new position in First Citizens BancShares during the 3rd quarter valued at approximately $3,564,000. Hiddenite Capital Partners LP raised its position in First Citizens BancShares by 14.1% during 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 purchased a new stake in First Citizens BancShares in the 3rd quarter worth approximately $801,000. Finally, JPMorgan Chase & Co. grew its position in shares of First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after buying an additional 18,501 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FCNCA. Barclays lifted their target price 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 note on Monday, January 27th. JPMorgan Chase & Co. boosted their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Piper Sandler lifted their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a report on Monday, January 27th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Finally, Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $2,141.49 on Tuesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50-day simple moving average of $2,143.58 and a two-hundred day simple moving average of $2,066.03. The firm has a market capitalization of $29.96 billion, a PE ratio of 11.30, a P/E/G ratio of 1.00 and a beta of 0.85. First Citizens BancShares, Inc. has a 52-week low of $1,475.85 and a 52-week high of $2,412.93.

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, 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%. Analysts forecast that First Citizens BancShares, Inc. will post 165.15 EPS for the current 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 issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 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.