Check Capital Management Inc. CA Raises Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Check Capital Management Inc. CA raised its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 20.0% in the fourth quarter, Holdings Channel reports. The firm owned 33,599 shares of the bank’s stock after purchasing an additional 5,605 shares during the period. First Citizens BancShares accounts for 2.1% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 6th largest holding. Check Capital Management Inc. CA’s holdings in First Citizens BancShares were worth $70,995,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Raymond James & Associates lifted its stake in First Citizens BancShares by 5.1% in the third quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock valued at $30,976,000 after purchasing an additional 811 shares during the last quarter. Balentine LLC purchased a new position in shares of First Citizens BancShares during the 3rd quarter valued at $3,564,000. Hiddenite Capital Partners LP grew its stake in shares of First Citizens BancShares by 14.1% during the 3rd quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock worth $5,946,000 after acquiring an additional 400 shares during the period. Retireful LLC purchased a new stake in First Citizens BancShares in the 3rd quarter worth about $801,000. Finally, JPMorgan Chase & Co. raised its stake in First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after acquiring an additional 18,501 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Piper Sandler lifted their price objective on shares of 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. Truist Financial increased their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Barclays lifted their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased their price objective 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 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, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Trading Up 1.6 %

Shares of First Citizens BancShares stock opened at $2,141.49 on Friday. The company has a 50 day simple moving average of $2,143.80 and a two-hundred day simple moving average of $2,065.70. The firm has a market cap of $29.96 billion, a PE ratio of 11.30, a PEG ratio of 1.00 and a beta of 0.85. First Citizens BancShares, Inc. has a 1 year low of $1,475.85 and a 1 year high of $2,412.93. 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 (NASDAQ:FCNCA) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that First Citizens BancShares, Inc. will post 165.15 earnings per share 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. Stockholders of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 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.