First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 549 shares of the bank’s stock after buying an additional 46 shares during the period. CIBC Asset Management Inc’s holdings in First Citizens BancShares were worth $1,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Financial Life Planners purchased a new stake in First Citizens BancShares in the fourth quarter valued at approximately $33,000. Hemington Wealth Management boosted its position in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after buying an additional 6 shares during the last quarter. Mather Group LLC. boosted its position in 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 buying an additional 5 shares during the last quarter. Asset Planning Inc purchased a new stake in First Citizens BancShares in the fourth quarter valued at approximately $38,000. Finally, Brooklyn Investment Group purchased a new stake in First Citizens BancShares in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on FCNCA. UBS Group began coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective on the stock. Truist Financial upped their price objective 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. JPMorgan Chase & Co. upped their price objective on 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. The Goldman Sachs Group upped their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Down 3.2 %

NASDAQ FCNCA opened at $2,049.25 on Friday. The business has a fifty day moving average price of $2,145.78 and a 200 day moving average price of $2,070.75. First Citizens BancShares, Inc. has a one year low of $1,500.94 and a one year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $28.67 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.94 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.38%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 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.