Gryphon Financial Partners LLC Acquires Shares of 100 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Gryphon Financial Partners LLC purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 100 shares of the bank’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Financial Life Planners acquired a new position in shares of First Citizens BancShares during the 4th quarter valued at about $33,000. Hemington Wealth Management lifted its holdings in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in First Citizens BancShares in the fourth quarter worth approximately $36,000. Mather Group LLC. increased its stake in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after acquiring an additional 5 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in First Citizens BancShares in the fourth quarter valued at $38,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FCNCA shares. Truist Financial increased their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective for the company. Finally, UBS Group started coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Trading Down 2.9 %

NASDAQ:FCNCA opened at $1,989.62 on Tuesday. First Citizens BancShares, Inc. has a 1 year low of $1,505.73 and a 1 year high of $2,412.93. The stock has a market cap of $27.01 billion, a P/E ratio of 10.50, 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. The stock has a 50-day simple moving average of $2,139.06 and a 200-day simple moving average of $2,073.44.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 24th. The bank reported $45.10 EPS 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 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 yield of 0.39%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

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.