Red Door Wealth Management LLC Makes New $218,000 Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Red Door Wealth Management LLC acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 103 shares of the bank’s stock, valued at approximately $218,000.

A number of other large investors have also made changes to their positions in the stock. Mercer Global Advisors Inc. ADV boosted its position in First Citizens BancShares by 17.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 218 shares of the bank’s stock worth $367,000 after acquiring an additional 32 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of First Citizens BancShares by 60.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,943 shares of the bank’s stock worth $3,271,000 after purchasing an additional 732 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of First Citizens BancShares during the second quarter worth $639,000. APG Asset Management N.V. increased its stake in First Citizens BancShares by 2,957.0% in the second quarter. APG Asset Management N.V. now owns 11,372 shares of the bank’s stock valued at $17,864,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Dark Forest Capital Management LP increased its stake in First Citizens BancShares by 211.5% in the second quarter. Dark Forest Capital Management LP now owns 542 shares of the bank’s stock valued at $913,000 after purchasing an additional 368 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on FCNCA. Barclays lifted their price target on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. The Goldman Sachs Group upped their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wedbush decreased their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. UBS Group began coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective for the company. Finally, Keefe, Bruyette & Woods upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 target price on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2,290.75.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $2,225.00 on Friday. The company has a market capitalization of $31.13 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.03 and a beta of 0.86. 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 1-year low of $1,383.00 and a 1-year high of $2,412.93. The business has a 50-day moving average of $2,171.41 and a 200-day moving average of $2,033.79.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data 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 17.36% and a return on equity of 13.63%. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 187.95 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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 $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

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.