CCM Investment Advisers LLC Invests $211,000 in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

CCM Investment Advisers LLC bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 100 shares of the bank’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently added to or reduced their stakes in FCNCA. M&T Bank Corp boosted its stake in shares of First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after purchasing an additional 5 shares during the last quarter. Metis Global Partners LLC boosted its position in First Citizens BancShares by 4.9% during the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after acquiring an additional 6 shares during the last quarter. Tandem Capital Management Corp ADV grew its holdings in First Citizens BancShares by 1.8% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after acquiring an additional 8 shares during the period. Mount Lucas Management LP raised its position in shares of First Citizens BancShares by 2.6% in the 3rd quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock worth $580,000 after acquiring an additional 8 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of First Citizens BancShares by 1.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,007 shares of the bank’s stock valued at $1,854,000 after purchasing an additional 10 shares during the period. 78.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FCNCA has been the subject of several recent analyst reports. Truist Financial assumed coverage on First Citizens BancShares in a research note on Tuesday. They set a “hold” rating and a $2,303.00 target price for the company. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday. UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price on the stock. Barclays lifted their price target on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Wedbush reduced their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2,290.75.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA traded down $32.37 during mid-day trading on Friday, reaching $2,061.63. 24,373 shares of the company’s stock were exchanged, compared to its average volume of 58,007. The firm has a market capitalization of $28.84 billion, a price-to-earnings ratio of 11.81 and a beta of 0.86. The firm has a 50-day moving average price of $2,159.07 and a two-hundred day moving average price of $1,996.68. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 52 week low of $1,363.97 and a 52 week high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) 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 firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the firm earned $55.92 earnings per share. Analysts predict that First Citizens BancShares, Inc. will post 188.21 EPS for the current year.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $1.95 per share. The ex-dividend date was Friday, November 29th. This represents a $7.80 annualized dividend and a yield of 0.38%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s payout ratio is currently 4.47%.

First Citizens BancShares Company 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.