Stonegate Investment Group LLC Grows Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Stonegate Investment Group LLC boosted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.5% during the 4th quarter, Holdings Channel reports. The firm owned 279 shares of the bank’s stock after buying an additional 12 shares during the period. Stonegate Investment Group LLC’s holdings in First Citizens BancShares were worth $590,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. M&T Bank Corp grew its holdings in First Citizens BancShares by 0.8% during the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after buying an additional 5 shares in the last quarter. Metis Global Partners LLC boosted its position in shares of First Citizens BancShares by 4.9% during the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after acquiring an additional 6 shares during the last quarter. Brooklyn Investment Group grew its stake in First Citizens BancShares by 33.3% during the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock valued at $57,000 after acquiring an additional 7 shares in the last quarter. Tandem Capital Management Corp ADV increased its holdings 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 valued at $845,000 after acquiring an additional 8 shares during the last quarter. Finally, Mount Lucas Management LP lifted its stake in First Citizens BancShares by 2.6% in the 3rd quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock worth $580,000 after purchasing an additional 8 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FCNCA shares. Wedbush reduced their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price for the company. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Truist Financial initiated 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 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2,316.75.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,179.18 on Wednesday. The firm has a market capitalization of $30.49 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. First Citizens BancShares, Inc. has a 12-month low of $1,438.08 and a 12-month high of $2,412.93. The firm has a 50-day moving average price of $2,170.40 and a 200-day moving average price of $2,044.13. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. As a group, equities research analysts forecast that First Citizens BancShares, Inc. will post 187.95 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.47%.

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.