First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 362.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37 shares of the bank’s stock after buying an additional 29 shares during the period. Harvest Fund Management Co. Ltd’s holdings in First Citizens BancShares were worth $52,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC raised its position in First Citizens BancShares by 35.5% during the 3rd quarter. CWM LLC now owns 187 shares of the bank’s stock worth $257,000 after buying an additional 49 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of First Citizens BancShares by 1,040.0% in the 3rd quarter. UMB Bank n.a. now owns 57 shares of the bank’s stock valued at $79,000 after purchasing an additional 52 shares in the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in shares of First Citizens BancShares in the 3rd quarter valued at about $1,380,000. Commonwealth Equity Services LLC grew its stake in First Citizens BancShares by 4.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock valued at $419,000 after acquiring an additional 12 shares during the last quarter. Finally, Xponance Inc. grew its stake in First Citizens BancShares by 6.0% in the 3rd quarter. Xponance Inc. now owns 548 shares of the bank’s stock valued at $756,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 61.18% of the company’s stock.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of research reports. StockNews.com cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $2,100.00 price target (up from $1,900.00) on shares of First Citizens BancShares in a research note on Friday. DA Davidson reaffirmed a “neutral” rating and set a $1,650.00 price target (up from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. The Goldman Sachs Group began coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1,829.90.

First Citizens BancShares Trading Down 2.5 %

NASDAQ FCNCA opened at $1,754.50 on Friday. First Citizens BancShares, Inc. has a one year low of $945.32 and a one year high of $1,810.03. The company’s 50 day moving average price is $1,578.09 and its 200 day moving average price is $1,477.46. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $25.48 billion, a price-to-earnings ratio of 9.74 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.75%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. On average, sell-side analysts predict that First Citizens BancShares, Inc. will post 179.92 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a $1.64 dividend. The ex-dividend date is Thursday, May 30th. This represents a $6.56 annualized dividend and a yield of 0.37%. First Citizens BancShares’s payout ratio is 3.64%.

Insider Activity at First Citizens BancShares

In other news, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Olivia Britton Holding purchased 466 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the transaction, the insider now directly owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,388 shares of company stock worth $1,825,220. Company insiders own 13.40% of the company’s stock.

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.