800 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Acquired by Solidarity Wealth LLC

Solidarity Wealth LLC bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, Holdings Channel reports. The fund bought 800 shares of the bank’s stock, valued at approximately $1,690,000.

Several other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in First Citizens BancShares by 40.1% in the second quarter. American Century Companies Inc. now owns 6,404 shares of the bank’s stock worth $10,782,000 after acquiring an additional 1,832 shares in the last quarter. Federated Hermes Inc. boosted its holdings in First Citizens BancShares by 127.9% in the second quarter. Federated Hermes Inc. now owns 335 shares of the bank’s stock worth $564,000 after acquiring an additional 188 shares in the last quarter. Edgestream Partners L.P. bought a new position in First Citizens BancShares in the second quarter worth approximately $557,000. Amalgamated Bank lifted its holdings in shares of First Citizens BancShares by 135.1% in the second quarter. Amalgamated Bank now owns 1,535 shares of the bank’s stock valued at $2,584,000 after purchasing an additional 882 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of First Citizens BancShares by 17.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 218 shares of the bank’s stock valued at $367,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price on the stock. Keefe, Bruyette & Woods upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 target price on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. The Goldman Sachs Group raised their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, UBS Group began coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,290.75.

First Citizens BancShares Stock Up 1.5 %

Shares of NASDAQ FCNCA opened at $2,188.94 on Tuesday. First Citizens BancShares, Inc. has a one year low of $1,371.77 and a one year high of $2,388.78. 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 business’s fifty day moving average price is $2,167.41 and its 200-day moving average price is $2,023.61. The stock has a market capitalization of $30.62 billion, a PE ratio of 12.54, a P/E/G ratio of 1.01 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same period in the prior year, the company earned $55.92 EPS. On average, equities research analysts anticipate that First Citizens BancShares, Inc. will post 187.95 EPS for the current year.

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.