Concurrent Investment Advisors LLC Raises Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Concurrent Investment Advisors LLC lifted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 117 shares of the bank’s stock after purchasing an additional 8 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in First Citizens BancShares were worth $247,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Financial Life Planners acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at about $33,000. Hemington Wealth Management raised its position in First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares in the last quarter. Mather Group LLC. lifted its holdings in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares during the period. Asset Planning Inc acquired a new position in First Citizens BancShares in the fourth quarter valued at approximately $38,000. Finally, Brooklyn Investment Group purchased a new stake in First Citizens BancShares in the 3rd quarter worth approximately $39,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on FCNCA shares. Keefe, Bruyette & Woods boosted their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. The Goldman Sachs Group upped 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 report on Tuesday, November 26th. UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price on the stock. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Trading Down 1.6 %

Shares of FCNCA stock opened at $1,992.71 on Wednesday. First Citizens BancShares, Inc. has a 1-year low of $1,505.73 and a 1-year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The business’s fifty day moving average price is $2,141.51 and its 200 day moving average price is $2,072.39. The firm has a market capitalization of $27.88 billion, a PE ratio of 10.52, a P/E/G ratio of 0.94 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS 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. Investors of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.39%. 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.