C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $9.36 Million in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,429 shares of the bank’s stock, valued at approximately $9,359,000. First Citizens BancShares makes up approximately 0.4% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of FCNCA. M&T Bank Corp boosted its stake in First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares during the period. Mather Group LLC. boosted its position in shares of 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. Metis Global Partners LLC grew its stake in First Citizens BancShares by 4.9% during 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. Brooklyn Investment Group increased its holdings in First Citizens BancShares by 33.3% during the 4th quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock worth $57,000 after acquiring an additional 7 shares during the period. Finally, Tandem Capital Management Corp ADV lifted its stake in First Citizens BancShares by 1.8% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after purchasing an additional 8 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock opened at $2,125.31 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52-week low of $1,460.76 and a 52-week high of $2,412.93. The company has a fifty day moving average of $2,146.68 and a 200-day moving average of $2,065.53. The stock has a market capitalization of $29.73 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (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%. Equities research analysts expect that First Citizens BancShares, Inc. will post 165.15 EPS for the current 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 dividend on an annualized basis and a yield of 0.37%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.12%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. UBS Group initiated coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. Truist Financial raised their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective 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. 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 an average price target 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.