106 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Purchased by Wedmont Private Capital

Wedmont Private Capital purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 106 shares of the bank’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also made changes to their positions in FCNCA. American Century Companies Inc. grew its position in shares of First Citizens BancShares by 40.1% during the second quarter. American Century Companies Inc. now owns 6,404 shares of the bank’s stock worth $10,782,000 after acquiring an additional 1,832 shares during the last quarter. Federated Hermes Inc. boosted its stake in First Citizens BancShares by 127.9% during the 2nd quarter. Federated Hermes Inc. now owns 335 shares of the bank’s stock valued at $564,000 after purchasing an additional 188 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of First Citizens BancShares by 46.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 282 shares of the bank’s stock valued at $475,000 after purchasing an additional 90 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of First Citizens BancShares during the 2nd quarter valued at $557,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of First Citizens BancShares by 81.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 272 shares of the bank’s stock worth $458,000 after acquiring an additional 122 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Price Performance

FCNCA opened at $2,188.94 on Friday. 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 market capitalization of $30.62 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 0.96 and a beta of 0.86. The company’s 50 day simple moving average is $2,167.50 and its 200-day simple moving average is $2,016.14. First Citizens BancShares, Inc. has a one year low of $1,371.77 and a one year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the firm earned $55.92 earnings per share. Sell-side analysts anticipate that First Citizens BancShares, Inc. will post 186.98 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.36%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend was Friday, November 29th. First Citizens BancShares’s payout ratio is presently 4.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. The Goldman Sachs Group raised 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 note on Tuesday, November 26th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday. Truist Financial assumed coverage on shares of First Citizens BancShares in a research report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price on the stock. Wedbush reduced their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. increased their price target 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,290.75.

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.