Hedeker Wealth LLC Buys 31 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Hedeker Wealth LLC grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 187 shares of the bank’s stock after acquiring an additional 31 shares during the period. Hedeker Wealth LLC’s holdings in First Citizens BancShares were worth $395,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Financial Life Planners purchased a new stake in First Citizens BancShares during the 4th quarter worth about $33,000. 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. Brooklyn Investment Group purchased a new position in First Citizens BancShares during the third quarter valued at approximately $39,000. GAMMA Investing LLC increased its holdings in First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after acquiring an additional 35 shares during the period. Finally, Private Trust Co. NA lifted its stake in First Citizens BancShares by 2,100.0% in the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 1.7 %

Shares of First Citizens BancShares stock opened at $2,210.47 on Friday. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.00 and a beta of 0.85. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 1 year low of $1,438.08 and a 1 year high of $2,412.93. The company has a 50-day moving average of $2,152.11 and a 200 day moving average of $2,058.74.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS 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%. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal 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 paid a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.35%. First Citizens BancShares’s dividend payout ratio is 4.12%.

Wall Street Analyst Weigh In

FCNCA has been the subject of several recent analyst reports. UBS Group started coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective for the company. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Truist Financial upped their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Piper Sandler increased their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares 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.