Stoneridge Investment Partners LLC Acquires New Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Stoneridge Investment Partners LLC acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 787 shares of the bank’s stock, valued at approximately $1,663,000.

A number of other large investors have also made changes to their positions in FCNCA. Financial Life Planners acquired a new stake in First Citizens BancShares in the 4th quarter worth about $33,000. Mather Group LLC. boosted its stake in First Citizens BancShares by 38.5% in 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 last quarter. Brooklyn Investment Group acquired a new stake in First Citizens BancShares in the 3rd quarter worth about $39,000. GAMMA Investing LLC boosted its stake in First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after buying an additional 35 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in First Citizens BancShares by 2,100.0% in the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $2,218.40 on Friday. The firm has a market cap of $31.04 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.00 and a beta of 0.85. The stock has a 50 day moving average of $2,150.58 and a 200-day moving average of $2,061.33. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 52 week low of $1,460.76 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts forecast that First Citizens BancShares, Inc. will post 165.15 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 dividend on an annualized basis and a yield of 0.35%. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FCNCA shares. Piper Sandler lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective on the stock. Truist Financial lifted their price objective 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. Finally, Wedbush reduced their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

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.