Hemington Wealth Management Has $33,000 Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Hemington Wealth Management grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 60.0% in the 4th quarter, HoldingsChannel reports. The fund owned 16 shares of the bank’s stock after purchasing an additional 6 shares during the quarter. Hemington Wealth Management’s holdings in First Citizens BancShares were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position in shares of First Citizens BancShares by 11.6% in the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after acquiring an additional 33,713 shares during the period. JPMorgan Chase & Co. raised its stake in 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 purchasing an additional 18,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in First Citizens BancShares by 15.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock valued at $107,749,000 after purchasing an additional 7,613 shares during the period. Reinhart Partners LLC. grew its position in shares of First Citizens BancShares by 2.1% during the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock worth $122,516,000 after purchasing an additional 1,183 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of First Citizens BancShares by 128.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock worth $115,859,000 after purchasing an additional 30,828 shares during the period. Institutional investors own 78.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. The Goldman Sachs Group increased their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price target on 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. Finally, Piper Sandler increased their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Stock Down 0.9 %

FCNCA stock opened at $2,107.02 on Friday. The stock has a market capitalization of $29.48 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. 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 50-day moving average price of $2,146.68 and a 200-day moving average price of $2,065.53. First Citizens BancShares, Inc. has a 12 month low of $1,467.51 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

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.