First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Catalina Capital Group LLC

Catalina Capital Group LLC raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 118 shares of the bank’s stock after purchasing an additional 9 shares during the quarter. Catalina Capital Group LLC’s holdings in First Citizens BancShares were worth $249,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. FMR LLC raised its holdings in shares of First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after buying an additional 33,713 shares during the period. International Assets Investment Management LLC increased its stake in First Citizens BancShares by 183,992.3% during the third quarter. International Assets Investment Management LLC now owns 23,932 shares of the bank’s stock worth $440,580,000 after purchasing an additional 23,919 shares during the period. Commerce Bank lifted its position in shares of First Citizens BancShares by 4,762.2% during the third quarter. Commerce Bank now owns 21,345 shares of the bank’s stock worth $39,295,000 after purchasing an additional 20,906 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of First Citizens BancShares by 337.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank’s stock valued at $48,095,000 after purchasing an additional 20,149 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of 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 purchasing an additional 18,501 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of research reports. Piper Sandler increased their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods increased their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price for the company. UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Finally, StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,142.01 on Tuesday. The company has a market capitalization of $29.97 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.00 and a beta of 0.85. First Citizens BancShares, Inc. has a 52-week low of $1,438.08 and a 52-week high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a 50 day moving average price of $2,160.31 and a 200 day moving average price of $2,054.63.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Research analysts predict that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s payout ratio is 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.