Gryphon Financial Partners LLC Acquires Shares of 100 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Gryphon Financial Partners LLC bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 100 shares of the bank’s stock, valued at approximately $212,000.

A number of other institutional investors have also modified their holdings of FCNCA. Financial Life Planners acquired a new position in First Citizens BancShares during the 4th quarter worth approximately $33,000. Hemington Wealth Management grew its stake in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares during the period. Duncker Streett & Co. Inc. purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at about $36,000. Mather Group LLC. lifted its stake in shares of First Citizens BancShares by 38.5% in 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. Finally, Asset Planning Inc purchased a new stake in First Citizens BancShares during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $1,989.62 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $27.01 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85. The business’s 50-day moving average price is $2,139.06 and its 200 day moving average price is $2,073.44. First Citizens BancShares, Inc. has a twelve month low of $1,505.73 and a twelve month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released 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%. On average, research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Analysts Set New Price Targets

A number of brokerages have issued reports 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 company a “neutral” rating in a report on Monday, January 27th. JPMorgan Chase & Co. upped their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Truist Financial lifted 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 price target on shares of 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, Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,323.50.

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.