Compound Global Advisors LLC Takes Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Compound Global Advisors LLC bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 200 shares of the bank’s stock, valued at approximately $423,000. First Citizens BancShares comprises approximately 1.7% of Compound Global Advisors LLC’s investment portfolio, making the stock its 25th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M&T Bank Corp increased its holdings in First Citizens BancShares by 0.8% during the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after buying an additional 5 shares during the last quarter. Mather Group LLC. increased its holdings in First Citizens BancShares by 38.5% during the fourth 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. Metis Global Partners LLC increased its holdings in First Citizens BancShares by 4.9% during the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after buying an additional 6 shares during the last quarter. Brooklyn Investment Group increased its holdings in First Citizens BancShares by 33.3% during the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock worth $57,000 after buying an additional 7 shares during the last quarter. Finally, Tandem Capital Management Corp ADV boosted its position in First Citizens BancShares by 1.8% during the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on FCNCA. Piper Sandler increased their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Truist Financial increased their target price on shares of 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 increased their target price on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Trading Down 2.9 %

Shares of FCNCA opened at $2,154.57 on Tuesday. The firm’s 50 day simple moving average is $2,149.21 and its 200 day simple moving average is $2,064.79. The company has a market capitalization of $30.14 billion, a P/E ratio of 11.37, a P/E/G ratio of 1.00 and a beta of 0.85. 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 $1,460.76 and a 1-year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

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.