Brooklyn Investment Group Purchases 7 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Brooklyn Investment Group raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 33.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28 shares of the bank’s stock after purchasing an additional 7 shares during the period. Brooklyn Investment Group’s holdings in First Citizens BancShares were worth $57,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Raymond James & Associates boosted its stake in First Citizens BancShares by 5.1% in the 3rd quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock worth $30,976,000 after purchasing an additional 811 shares during the period. Balentine LLC acquired a new position in shares of First Citizens BancShares during the third quarter worth about $3,564,000. Hiddenite Capital Partners LP boosted its position 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 worth $5,946,000 after buying an additional 400 shares during the period. Retireful LLC bought a new position in shares of First Citizens BancShares during the third quarter worth about $801,000. Finally, Oliver Luxxe Assets LLC raised its position in First Citizens BancShares by 22.6% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock valued at $5,368,000 after buying an additional 537 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial assumed coverage on shares of First Citizens BancShares in a report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price on the stock. The Goldman Sachs Group increased their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods raised 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 research report on Tuesday, January 14th. Finally, Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,290.75.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $2,188.94 on Monday. 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 $30.62 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.96 and a beta of 0.86. First Citizens BancShares, Inc. has a 52-week low of $1,371.77 and a 52-week high of $2,388.78. The company has a 50-day simple moving average of $2,167.50 and a 200 day simple moving average of $2,020.28.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data 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 return on equity of 13.63% and a net margin of 17.36%. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the business posted $55.92 EPS. On average, research analysts predict that First Citizens BancShares, Inc. will post 186.98 EPS for the current year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $1.95 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 annualized dividend and a yield of 0.36%. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

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.