Vontobel Holding Ltd. Purchases Shares of 625 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Vontobel Holding Ltd. purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 625 shares of the bank’s stock, valued at approximately $1,321,000.

Several other hedge funds have also modified their holdings of the company. Raymond James & Associates raised its position in shares of First Citizens BancShares by 5.1% in the 3rd quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock valued at $30,976,000 after purchasing an additional 811 shares during the last quarter. Balentine LLC purchased a new position in shares of First Citizens BancShares in the 3rd quarter valued at approximately $3,564,000. Hiddenite Capital Partners LP raised its position in shares of 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 purchased a new position in shares of First Citizens BancShares in the 3rd quarter valued at approximately $801,000. Finally, JPMorgan Chase & Co. raised 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 valued at $531,961,000 after purchasing an additional 18,501 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FCNCA. JPMorgan Chase & Co. raised their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Wedbush reduced their price target on shares of 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. The Goldman Sachs Group raised their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Truist Financial raised their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Stock Up 1.6 %

Shares of FCNCA opened at $2,141.49 on Tuesday. The stock 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 1 year low of $1,475.85 and a 1 year high of $2,412.93. 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 company’s 50-day simple moving average is $2,143.58 and its 200-day simple moving average is $2,066.03.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared 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 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.