Concurrent Investment Advisors LLC Boosts Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Concurrent Investment Advisors LLC raised its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117 shares of the bank’s stock after buying an additional 8 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in First Citizens BancShares were worth $247,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Balentine LLC purchased a new stake in First Citizens BancShares during the 3rd quarter valued at $3,564,000. Hiddenite Capital Partners LP lifted its holdings in shares of First Citizens BancShares by 14.1% during the third 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 in the last quarter. Retireful LLC purchased a new stake in shares of First Citizens BancShares during the third quarter valued at $801,000. JPMorgan Chase & Co. increased its holdings in First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after buying an additional 18,501 shares in the last quarter. Finally, Check Capital Management Inc. CA raised its position in First Citizens BancShares by 20.0% in the 4th quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock worth $70,995,000 after buying an additional 5,605 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $1,992.71 on Wednesday. The firm’s fifty day moving average is $2,141.51 and its two-hundred day moving average is $2,072.39. First Citizens BancShares, Inc. has a 52-week low of $1,505.73 and a 52-week high of $2,412.93. The company has a market cap of $27.88 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.94 and a beta of 0.85. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FCNCA shares. The Goldman Sachs Group boosted their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays upped 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 report on Monday, January 27th. Piper Sandler raised their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods upped their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,323.50.

First Citizens BancShares 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.