Gradient Investments LLC Takes $801,000 Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Gradient Investments LLC bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 379 shares of the bank's stock, valued at approximately $801,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC increased its stake in shares of First Citizens BancShares by 11.6% in the third quarter. FMR LLC now owns 323,532 shares of the bank's stock valued at $595,607,000 after purchasing an additional 33,713 shares during the period. JPMorgan Chase & Co. raised its stake in First Citizens BancShares by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after acquiring an additional 18,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of First Citizens BancShares by 15.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank's stock worth $107,749,000 after purchasing an additional 7,613 shares in the last quarter. Reinhart Partners LLC. increased its holdings in shares of First Citizens BancShares by 2.1% during the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank's stock valued at $122,516,000 after purchasing an additional 1,183 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of First Citizens BancShares by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank's stock valued at $86,812,000 after purchasing an additional 1,339 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of 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. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price target on the stock. Barclays upped their price objective on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lifted 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 research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $2,290.75.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA traded up $8.51 during trading on Friday, reaching $2,225.00. The stock had a trading volume of 151,271 shares, compared to its average volume of 53,232. The stock has a market capitalization of $31.13 billion, a PE ratio of 12.75, a P/E/G ratio of 1.03 and a beta of 0.86. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 52 week low of $1,383.00 and a 52 week high of $2,412.93. The business's 50-day moving average price is $2,171.41 and its 200 day moving average price is $2,038.04.

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, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 187.95 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.35%. First Citizens BancShares's dividend payout ratio is 4.47%.

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.