Avantra Family Wealth Inc. Makes New $1.26 Million Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Avantra Family Wealth Inc. bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 597 shares of the bank's stock, valued at approximately $1,261,000. First Citizens BancShares comprises approximately 1.2% of Avantra Family Wealth Inc.'s portfolio, making the stock its 14th biggest holding.

Several other institutional investors have also modified their holdings of the business. Brooklyn Investment Group bought a new stake in First Citizens BancShares during the 3rd quarter valued at $39,000. GAMMA Investing LLC boosted its stake in First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank's stock valued at $114,000 after purchasing an additional 35 shares in the last quarter. Private Trust Co. NA raised its stake in shares of First Citizens BancShares by 2,100.0% in the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank's stock worth $162,000 after buying an additional 84 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of First Citizens BancShares in the third quarter valued at $177,000. Finally, nVerses Capital LLC bought a new position in First Citizens BancShares during the third quarter valued at about $184,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. UBS Group started coverage on shares of First Citizens BancShares in a 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 shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods increased their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2,323.50.

First Citizens BancShares Price Performance

FCNCA stock traded up $23.64 during trading on Wednesday, hitting $2,173.36. 21,234 shares of the stock traded hands, compared to its average volume of 71,761. 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 stock has a market cap of $30.41 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.00 and a beta of 0.85. First Citizens BancShares, Inc. has a one year low of $1,438.08 and a one year high of $2,412.93. The company has a 50 day simple moving average of $2,156.79 and a 200 day simple moving average of $2,056.87.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Equities analysts expect that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

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.