PFW Advisors LLC Takes $213,000 Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

PFW Advisors LLC bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 101 shares of the bank’s stock, valued at approximately $213,000.

Several other hedge funds also recently modified their holdings of FCNCA. M&T Bank Corp increased its holdings in shares of First Citizens BancShares by 0.8% during the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after acquiring an additional 5 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after acquiring an additional 6 shares in the last quarter. Tandem Capital Management Corp ADV boosted its stake in shares of First Citizens BancShares by 1.8% in the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock valued at $845,000 after buying an additional 8 shares during the period. Mount Lucas Management LP lifted its position in shares of First Citizens BancShares by 2.6% during the 3rd quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock valued at $580,000 after acquiring an additional 8 shares during the period. Finally, TD Private Client Wealth LLC grew its stake in First Citizens BancShares by 1.0% during the third quarter. TD Private Client Wealth LLC now owns 1,007 shares of the bank’s stock worth $1,854,000 after buying an additional 10 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FCNCA shares. UBS Group assumed coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $2,100.00 to $2,500.00 in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. Finally, Wedbush cut their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2,290.75.

First Citizens BancShares Stock Up 1.1 %

Shares of First Citizens BancShares stock traded up $21.81 on Monday, hitting $2,085.61. The company had a trading volume of 67,901 shares, compared to its average volume of 66,228. First Citizens BancShares, Inc. has a 1 year low of $1,363.97 and a 1 year high of $2,388.78. 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 moving average of $2,161.81 and a 200-day moving average of $2,004.66. The stock has a market capitalization of $29.18 billion, a price-to-earnings ratio of 11.95 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company earned $55.92 EPS. As a group, sell-side analysts forecast that First Citizens BancShares, Inc. will post 188.21 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a dividend of $1.95 per share. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Friday, November 29th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.47%.

First Citizens BancShares 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.