First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stake Raised by US Bancorp DE

US Bancorp DE grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 13.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 745 shares of the bank’s stock after buying an additional 91 shares during the period. US Bancorp DE’s holdings in First Citizens BancShares were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in shares of First Citizens BancShares by 6.9% during the third quarter. Janney Montgomery Scott LLC now owns 3,760 shares of the bank’s stock valued at $6,922,000 after acquiring an additional 244 shares during the period. Concurrent Investment Advisors LLC acquired a new position in First Citizens BancShares in the third quarter worth approximately $201,000. Assetmark Inc. grew its position in First Citizens BancShares by 29.7% in the third quarter. Assetmark Inc. now owns 3,401 shares of the bank’s stock worth $6,261,000 after buying an additional 779 shares during the last quarter. Rather & Kittrell Inc. acquired a new position in First Citizens BancShares in the third quarter worth approximately $368,000. Finally, Nations Financial Group Inc. IA ADV grew its position in First Citizens BancShares by 4.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 314 shares of the bank’s stock worth $578,000 after buying an additional 14 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $1,869.60 on Friday. First Citizens BancShares, Inc. has a 1 year low of $1,505.73 and a 1 year high of $2,412.93. The firm’s 50 day moving average is $2,114.68 and its 200-day moving average is $2,068.12. The firm has a market capitalization of $25.38 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 0.94 and a beta of 0.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

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%. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of recent analyst reports. Barclays raised their price objective on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. 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 research note on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. Finally, StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.