Stoneridge Investment Partners LLC Makes New Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Stoneridge Investment Partners LLC purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 787 shares of the bank's stock, valued at approximately $1,663,000.

A number of other hedge funds have also bought and sold shares of the business. Financial Life Planners bought a new stake in shares of First Citizens BancShares in the 4th quarter worth approximately $33,000. Mather Group LLC. raised its stake in shares of First Citizens BancShares by 38.5% in the fourth 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. Brooklyn Investment Group purchased a new position in shares of First Citizens BancShares during the 3rd quarter valued at $39,000. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 35 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of First Citizens BancShares by 2,100.0% during the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank's stock worth $162,000 after acquiring an additional 84 shares during the period. 78.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FCNCA. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. Citigroup cut First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods raised their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. UBS Group started coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price target on the stock. Finally, Wedbush cut their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $2,323.50.

First Citizens BancShares Trading Down 1.4 %

Shares of NASDAQ FCNCA traded down $30.63 during trading hours on Wednesday, hitting $2,125.31. The company's stock had a trading volume of 42,244 shares, compared to its average volume of 69,373. The business has a 50-day simple moving average of $2,146.68 and a 200-day simple moving average of $2,065.53. The stock has a market cap of $29.73 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 1.00 and a beta of 0.85. 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, Inc. has a 12 month low of $1,460.76 and a 12 month high of $2,412.93.

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 for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, analysts anticipate that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.37%. The ex-dividend date is Friday, February 28th. First Citizens BancShares's dividend payout ratio is currently 4.12%.

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.