Meitav Investment House Ltd. Has $729,000 Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Meitav Investment House Ltd. raised its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 93.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 345 shares of the bank’s stock after buying an additional 167 shares during the period. Meitav Investment House Ltd.’s holdings in First Citizens BancShares were worth $729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FCNCA. Financial Life Planners acquired a new position in shares of First Citizens BancShares during the fourth quarter valued at $33,000. Hemington Wealth Management boosted its stake in shares of First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Mather Group LLC. grew its position in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares during the period. Asset Planning Inc bought a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $38,000. Finally, Brooklyn Investment Group acquired a new position in First Citizens BancShares in the third quarter valued at approximately $39,000. Institutional investors own 78.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on FCNCA shares. JPMorgan Chase & Co. upped their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial increased their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Piper Sandler upped their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods increased their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $2,156.78 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $30.17 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 0.96 and a beta of 0.85. First Citizens BancShares, Inc. has a one year low of $1,475.85 and a one year high of $2,412.93. The stock’s 50-day moving average is $2,145.69 and its 200-day moving average is $2,068.13.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Equities analysts predict 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. Shareholders of record on Friday, February 28th will be paid a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.36%. First Citizens BancShares’s payout ratio is currently 4.12%.

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.