Princeton Global Asset Management LLC Acquires Shares of 618 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Princeton Global Asset Management LLC acquired a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 618 shares of the bank's stock, valued at approximately $1,306,000.

Several other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of First Citizens BancShares during the third quarter valued at approximately $39,000. GAMMA Investing LLC boosted its position 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 acquiring an additional 35 shares in the last quarter. Private Trust Co. NA boosted its position in First Citizens BancShares by 2,100.0% during the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank's stock valued at $162,000 after acquiring an additional 84 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of First Citizens BancShares in the 3rd quarter valued at $177,000. Finally, nVerses Capital LLC bought a new position in shares of First Citizens BancShares in the 3rd quarter worth $184,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock traded up $37.68 during trading hours on Thursday, hitting $2,210.47. 48,297 shares of the company were exchanged, compared to its average volume of 71,979. The business has a 50-day moving average of $2,152.11 and a 200-day moving average of $2,058.74. First Citizens BancShares, Inc. has a 1 year low of $1,438.08 and a 1 year high of $2,412.93. 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 capitalization of $30.92 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.00 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data 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%. As a group, analysts expect that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Friday, February 28th. First Citizens BancShares's dividend payout ratio is currently 4.12%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FCNCA. Keefe, Bruyette & Woods raised their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Barclays upped their target price on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an "equal weight" rating in a research report on Monday, January 27th. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. UBS Group assumed 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 objective on the stock. Finally, The Goldman Sachs Group lifted 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 research note on Tuesday, November 26th. 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 presently has a consensus rating of "Moderate Buy" and an average price target of $2,323.50.

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.