4,429 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Acquired by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,429 shares of the bank's stock, valued at approximately $9,359,000.

A number of other institutional investors have also modified their holdings of FCNCA. M&T Bank Corp grew its stake in First Citizens BancShares by 0.8% during the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank's stock worth $1,117,000 after purchasing an additional 5 shares in the last quarter. Mather Group LLC. grew its stake in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after purchasing an additional 5 shares in the last quarter. Metis Global Partners LLC grew its stake in First Citizens BancShares by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank's stock worth $237,000 after purchasing an additional 6 shares in the last quarter. Hemington Wealth Management grew its stake in 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 in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in First Citizens BancShares by 0.3% during the 4th quarter. Sanctuary Advisors LLC now owns 2,309 shares of the bank's stock worth $5,122,000 after purchasing an additional 6 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

FCNCA stock traded down $67.86 during trading on Friday, hitting $2,049.25. The company had a trading volume of 72,498 shares, compared to its average volume of 67,621. The firm has a market cap of $28.67 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 0.96 and a beta of 0.85. First Citizens BancShares, Inc. has a 1-year low of $1,500.94 and a 1-year high of $2,412.93. The firm has a 50-day moving average price of $2,145.78 and a 200-day moving average price of $2,069.58. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (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%. On average, analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares's payout ratio is 4.12%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. Truist Financial lifted their price target 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. Wedbush decreased their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Finally, The Goldman Sachs Group lifted their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average 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.