Hedeker Wealth LLC Increases Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Hedeker Wealth LLC raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 187 shares of the bank’s stock after acquiring an additional 31 shares during the quarter. Hedeker Wealth LLC’s holdings in First Citizens BancShares were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC raised its stake in First Citizens BancShares by 9.4% during the 3rd quarter. Park Avenue Securities LLC now owns 395 shares of the bank’s stock worth $728,000 after acquiring an additional 34 shares during the period. GAMMA Investing LLC grew its position in shares of First Citizens BancShares by 129.6% during the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after purchasing an additional 35 shares in the last quarter. UMB Bank n.a. bought a new stake in shares of First Citizens BancShares during the third quarter valued at approximately $177,000. Sendero Wealth Management LLC increased its holdings in First Citizens BancShares by 10.3% in the 3rd quarter. Sendero Wealth Management LLC now owns 4,642 shares of the bank’s stock valued at $8,546,000 after acquiring an additional 432 shares during the last quarter. Finally, Reinhart Partners LLC. lifted its stake in First Citizens BancShares by 0.7% in the 3rd quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank’s stock worth $104,562,000 after purchasing an additional 416 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

Analysts Set New Price Targets

FCNCA has been the topic of several research reports. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price for the company. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Barclays upped their price objective 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. Finally, Keefe, Bruyette & Woods raised their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Stock Up 1.7 %

Shares of First Citizens BancShares stock opened at $2,210.47 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $30.92 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.00 and a beta of 0.85. The firm’s 50-day moving average is $2,152.11 and its two-hundred day moving average is $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.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, research analysts expect that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared 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 0.35%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s payout ratio is presently 4.12%.

First Citizens BancShares Company 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.