Jackson Square Capital LLC Makes New $999,000 Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Jackson Square Capital LLC purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 473 shares of the bank's stock, valued at approximately $999,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new position in shares of First Citizens BancShares during the fourth quarter worth $427,000. Brooklyn Investment Group increased its stake in First Citizens BancShares by 33.3% during the 4th quarter. Brooklyn Investment Group now owns 28 shares of the bank's stock worth $57,000 after buying an additional 7 shares during the period. Park Avenue Securities LLC boosted its position in First Citizens BancShares by 25.1% in the 4th quarter. Park Avenue Securities LLC now owns 494 shares of the bank's stock valued at $1,044,000 after buying an additional 99 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of First Citizens BancShares by 20.9% during the fourth quarter. SeaCrest Wealth Management LLC now owns 214 shares of the bank's stock valued at $453,000 after acquiring an additional 37 shares in the last quarter. Finally, PFW Advisors LLC purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth about $213,000. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Price Performance

FCNCA traded up $32.93 on Friday, reaching $2,188.94. The company had a trading volume of 51,697 shares, compared to its average volume of 62,798. The company has a market capitalization of $30.62 billion, a P/E ratio of 12.54, a PEG ratio of 0.96 and a beta of 0.86. 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 company has a fifty day moving average of $2,167.50 and a 200-day moving average of $2,018.15. First Citizens BancShares, Inc. has a one year low of $1,371.77 and a one year high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts' consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the firm posted $55.92 EPS. As a group, equities research analysts anticipate that First Citizens BancShares, Inc. will post 186.98 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $1.95 dividend. This is a positive change from First Citizens BancShares's previous quarterly dividend of $1.64. The ex-dividend date was Friday, November 29th. This represents a $7.80 annualized dividend and a yield of 0.36%. First Citizens BancShares's payout ratio is 4.47%.

Analysts Set New Price Targets

FCNCA has been the subject of several research analyst reports. Keefe, Bruyette & Woods upgraded First Citizens BancShares from a "market perform" rating to an "outperform" rating and set a $2,500.00 target price for the company in a research note on Tuesday, January 14th. Barclays boosted their target price on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price target 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. 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 research note on Tuesday, November 26th. Finally, Truist Financial initiated coverage on First Citizens BancShares in a research note on Tuesday, January 7th. They set a "hold" rating and a $2,303.00 price objective on the stock. Seven 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,290.75.

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.