First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,986 shares of the bank’s stock after purchasing an additional 103 shares during the quarter. Truist Financial Corp owned about 0.07% of First Citizens BancShares worth $21,101,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Financial Life Planners purchased a new position in First Citizens BancShares in the fourth quarter valued at approximately $33,000. Hemington Wealth Management increased its stake in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Mather Group LLC. increased its stake 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 purchasing an additional 5 shares during the last quarter. Asset Planning Inc purchased a new position in First Citizens BancShares in the fourth quarter valued at approximately $38,000. Finally, Brooklyn Investment Group purchased a new position in First Citizens BancShares in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $2,156.78 on Thursday. 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 stock has a fifty day moving average price of $2,145.69 and a 200 day moving average price of $2,068.13. First Citizens BancShares, Inc. has a 1-year low of $1,475.85 and a 1-year high of $2,412.93. The company has a market cap of $30.17 billion, a PE ratio of 11.39, a P/E/G ratio of 0.96 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.12%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. 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 target on the stock. Barclays raised their target price 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 report on Monday, January 27th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price 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. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.