First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 106.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 302 shares of the bank's stock after purchasing an additional 156 shares during the period. Atria Wealth Solutions Inc.'s holdings in First Citizens BancShares were worth $637,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of First Citizens BancShares in the 4th quarter valued at about $33,000. Hemington Wealth Management lifted its stake 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 holdings 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 acquiring an additional 5 shares during the period. Asset Planning Inc purchased a new position in shares of First Citizens BancShares during the fourth quarter worth approximately $38,000. Finally, Brooklyn Investment Group purchased a new stake in First Citizens BancShares in the 3rd quarter valued at $39,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Price Performance

Shares of FCNCA traded up $12.18 during trading hours on Friday, reaching $2,048.06. 70,633 shares of the company traded hands, compared to its average volume of 66,375. The stock has a fifty day simple moving average of $2,139.06 and a 200 day simple moving average of $2,072.93. First Citizens BancShares, Inc. has a fifty-two week low of $1,505.73 and a fifty-two week high of $2,412.93. The stock has a market capitalization of $28.65 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85. 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 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%. As a group, research analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.38%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Piper Sandler increased their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price objective on the stock. Finally, UBS Group initiated 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 target price on the stock. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,323.50.

First Citizens BancShares Company 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.