Proficio Capital Partners LLC Acquires Shares of 69,730 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Proficio Capital Partners LLC acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 69,730 shares of the bank’s stock, valued at approximately $147,341,000. Proficio Capital Partners LLC owned about 0.50% of First Citizens BancShares at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FCNCA. Balentine LLC acquired a new stake in First Citizens BancShares during the third quarter worth approximately $3,564,000. Hiddenite Capital Partners LP raised its stake in First Citizens BancShares by 14.1% during the 3rd quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock worth $5,946,000 after acquiring an additional 400 shares in the last quarter. Retireful LLC purchased a new stake in First Citizens BancShares in the third quarter valued at $801,000. JPMorgan Chase & Co. lifted its position in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after acquiring an additional 18,501 shares during the last quarter. Finally, Check Capital Management Inc. CA boosted its stake in First Citizens BancShares by 20.0% in the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock valued at $70,995,000 after acquiring an additional 5,605 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FCNCA. UBS Group initiated coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price for the company. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Truist Financial upped their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group boosted their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $2,024.41 on Thursday. The stock has a fifty day moving average price of $2,141.41 and a 200 day moving average price 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 stock has a market cap of $28.32 billion, a PE ratio of 10.69, a P/E/G ratio of 0.94 and a beta of 0.85. First Citizens BancShares, Inc. has a 1 year low of $1,505.73 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

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