First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 241 shares of the bank’s stock after acquiring an additional 39 shares during the quarter. Summit Trail Advisors LLC’s holdings in First Citizens BancShares were worth $508,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of FCNCA. Financial Life Planners acquired a new stake in First Citizens BancShares in the 4th quarter valued at approximately $33,000. Mather Group LLC. increased its holdings in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares during the period. Brooklyn Investment Group bought a new stake in shares of First Citizens BancShares during the third quarter valued at about $39,000. GAMMA Investing LLC lifted its holdings in First Citizens BancShares by 16.1% in the fourth quarter. GAMMA Investing LLC now owns 72 shares of the bank’s stock worth $152,000 after purchasing an additional 10 shares during the period. Finally, Private Trust Co. NA grew its position 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 valued at $162,000 after buying an additional 84 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of recent analyst reports. UBS Group assumed coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Truist Financial boosted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target 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. Piper Sandler boosted their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $2,155.94 on Wednesday. The company has a 50-day moving average of $2,148.13 and a two-hundred day moving average of $2,065.11. The stock has a market cap of $30.16 billion, a price-to-earnings ratio of 11.38, a PEG 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 one year low of $1,460.76 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping 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%. On average, equities research analysts expect that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued 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 dividend yield of 0.36%. First Citizens BancShares’s dividend payout ratio is 4.12%.

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.