Meitav Investment House Ltd. Grows Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Meitav Investment House Ltd. lifted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 93.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 345 shares of the bank's stock after acquiring an additional 167 shares during the quarter. Meitav Investment House Ltd.'s holdings in First Citizens BancShares were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. M&T Bank Corp grew its holdings in shares of First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank's stock worth $1,117,000 after purchasing an additional 5 shares during the last quarter. Mather Group LLC. boosted its position in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after buying an additional 5 shares during the period. Private Advisor Group LLC grew its holdings in First Citizens BancShares by 3.0% in the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock worth $363,000 after acquiring an additional 5 shares during the last quarter. Metis Global Partners LLC increased its position in shares of First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank's stock valued at $237,000 after acquiring an additional 6 shares during the period. Finally, Hemington Wealth Management raised its stake in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after acquiring an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on FCNCA shares. Piper Sandler raised their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on 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. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Barclays lifted their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an "equal weight" rating in a report on Monday, January 27th. Finally, Truist Financial upped their price objective on shares of 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. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and an average price target of $2,323.50.

First Citizens BancShares Stock Down 0.1 %

Shares of NASDAQ:FCNCA traded down $2.22 during trading on Monday, reaching $2,047.03. 29,194 shares of the stock traded hands, compared to its average volume of 66,470. First Citizens BancShares, Inc. has a 52-week low of $1,505.73 and a 52-week high of $2,412.93. The stock has a market cap of $28.64 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85. The stock has a 50-day moving average of $2,145.78 and a two-hundred day moving average of $2,071.81. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Friday, February 28th. First Citizens BancShares's payout ratio is 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.