Arizona State Retirement System Buys 30 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Arizona State Retirement System grew its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,936 shares of the bank’s stock after purchasing an additional 30 shares during the quarter. Arizona State Retirement System’s holdings in First Citizens BancShares were worth $6,204,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FCNCA. US Bancorp DE lifted its holdings in shares of First Citizens BancShares by 17.0% in the third quarter. US Bancorp DE now owns 654 shares of the bank’s stock valued at $1,204,000 after purchasing an additional 95 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of First Citizens BancShares by 6.9% in the third quarter. Janney Montgomery Scott LLC now owns 3,760 shares of the bank’s stock valued at $6,922,000 after purchasing an additional 244 shares in the last quarter. Catalina Capital Group LLC bought a new position in shares of First Citizens BancShares in the third quarter valued at approximately $201,000. Concurrent Investment Advisors LLC bought a new stake in First Citizens BancShares during the third quarter worth $201,000. Finally, Assetmark Inc. lifted its holdings in First Citizens BancShares by 29.7% during the third quarter. Assetmark Inc. now owns 3,401 shares of the bank’s stock worth $6,261,000 after acquiring an additional 779 shares during the period. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,869.60 on Friday. The stock has a market cap of $25.38 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85. First Citizens BancShares, Inc. has a fifty-two week low of $1,505.73 and a fifty-two week high of $2,412.93. 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 fifty day moving average of $2,119.94 and a 200-day moving average of $2,069.19.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating the consensus estimate 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 research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Analysts Set New Price Targets

FCNCA has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. UBS Group initiated coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Piper Sandler lifted their price target on 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. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Finally, Keefe, Bruyette & Woods lifted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,323.50.

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.