Intech Investment Management LLC Has $2.36 Million Position in First Citizens BancShares, Inc. $FCNCA

Intech Investment Management LLC increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 98.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,317 shares of the bank’s stock after purchasing an additional 652 shares during the quarter. Intech Investment Management LLC’s holdings in First Citizens BancShares were worth $2,356,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of First Citizens BancShares during the third quarter worth $27,000. UMB Bank n.a. boosted its stake in First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after purchasing an additional 8 shares during the period. Steph & Co. bought a new position in First Citizens BancShares during the 3rd quarter worth about $32,000. Root Financial Partners LLC acquired a new stake in shares of First Citizens BancShares in the 3rd quarter valued at about $32,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of First Citizens BancShares by 280.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after purchasing an additional 14 shares during the period. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,973.18 on Wednesday. The company has a market cap of $24.55 billion, a price-to-earnings ratio of 11.91 and a beta of 0.68. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,232.21. The company’s fifty day simple moving average is $2,094.18 and its 200 day simple moving average is $1,957.76. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. On average, research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s payout ratio is 5.07%.

Analysts Set New Price Targets

FCNCA has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. UBS Group set a $2,325.00 price target on First Citizens BancShares in a research report on Wednesday, February 4th. Barclays lowered their price objective on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a report on Monday, January 26th. Truist Financial boosted their price objective on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Finally, Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,238.27.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.