SeaCrest Wealth Management LLC Grows Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

SeaCrest Wealth Management LLC boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 20.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 214 shares of the bank’s stock after buying an additional 37 shares during the period. SeaCrest Wealth Management LLC’s holdings in First Citizens BancShares were worth $453,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its holdings in First Citizens BancShares by 20.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 427 shares of the bank’s stock valued at $720,000 after purchasing an additional 72 shares in the last quarter. Acadian Asset Management LLC acquired a new position in First Citizens BancShares during the second quarter worth $475,000. American Century Companies Inc. grew its holdings in 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 period. DekaBank Deutsche Girozentrale raised its position in First Citizens BancShares by 2.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,112 shares of the bank’s stock worth $1,871,000 after acquiring an additional 31 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in First Citizens BancShares by 127.9% in the second quarter. Federated Hermes Inc. now owns 335 shares of the bank’s stock valued at $564,000 after acquiring an additional 188 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FCNCA. Wedbush cut their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Barclays increased their target price on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 price target on the stock in a report on Tuesday. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. boosted their target price on 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 issued a buy rating to the stock. According to MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,290.75.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $2,156.01 on Friday. The company has a 50-day simple moving average of $2,167.03 and a 200-day simple moving average of $2,012.73. 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 company has a market cap of $30.16 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 0.96 and a beta of 0.86. First Citizens BancShares, Inc. has a 12 month low of $1,363.97 and a 12 month high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the firm posted $55.92 earnings per share. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 186.98 earnings per share for the current year.

First Citizens BancShares Increases Dividend

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