Allegiance Financial Group Advisory Services LLC Sells 121 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Allegiance Financial Group Advisory Services LLC reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,100 shares of the bank’s stock after selling 121 shares during the quarter. First Citizens BancShares accounts for approximately 0.8% of Allegiance Financial Group Advisory Services LLC’s investment portfolio, making the stock its 26th biggest holding. Allegiance Financial Group Advisory Services LLC’s holdings in First Citizens BancShares were worth $2,324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Balentine LLC bought a new position in First Citizens BancShares in the 3rd quarter valued at approximately $3,564,000. Hiddenite Capital Partners LP grew its position in First Citizens BancShares by 14.1% in the 3rd quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock valued at $5,946,000 after purchasing an additional 400 shares during the period. Retireful LLC acquired a new stake in First Citizens BancShares in the 3rd quarter valued at $801,000. JPMorgan Chase & Co. boosted its holdings in First Citizens BancShares by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after acquiring an additional 18,501 shares during the last quarter. Finally, Check Capital Management Inc. CA boosted its holdings in First Citizens BancShares by 20.0% during the 4th quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock worth $70,995,000 after acquiring an additional 5,605 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FCNCA shares. Barclays boosted their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. Truist Financial upped their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. UBS Group initiated coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, Keefe, Bruyette & Woods upped their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Up 1.5 %

First Citizens BancShares stock opened at $2,024.41 on Thursday. The stock has a 50-day simple moving average of $2,141.41 and a 200-day simple moving average of $2,072.05. 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 company has a market capitalization of $28.32 billion, a P/E ratio of 10.69, a PEG ratio of 0.94 and a beta of 0.85. First Citizens BancShares, Inc. has a fifty-two week low of $1,505.73 and a fifty-two week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping 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%. Equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.39%. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

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.