153 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Purchased by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, Holdings Channel reports. The fund bought 153 shares of the bank’s stock, valued at approximately $323,000.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. lifted its stake in 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. Private Advisor Group LLC boosted its stake in First Citizens BancShares by 3.0% during the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock worth $363,000 after acquiring an additional 5 shares during the last quarter. Exencial Wealth Advisors LLC grew its holdings in First Citizens BancShares by 1.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $904,000 after purchasing an additional 5 shares during the period. Gamco Investors INC. ET AL increased its stake in First Citizens BancShares by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank’s stock valued at $328,000 after purchasing an additional 5 shares in the last quarter. Finally, Hemington Wealth Management raised its holdings in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Barclays lowered their target price on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. The Goldman Sachs Group cut their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Piper Sandler upgraded shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price objective on the stock in a report on Tuesday, March 11th. Finally, Truist Financial upped their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,330.82.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $1,841.60 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50 day moving average price of $1,770.60 and a 200 day moving average price of $2,008.17. The stock has a market capitalization of $25.00 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating the consensus estimate of $37.72 by $0.07. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. First Citizens BancShares’s dividend payout ratio is presently 4.47%.

Insider Activity

In related news, CFO Craig L. Nix acquired 17 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the acquisition, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Frank B. Holding, Jr. bought 350 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were bought at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the purchase, the chief executive officer now owns 2,758 shares in the company, valued at $4,440,380. The trade was a 14.53 % increase in their position. The disclosure for this purchase can be found here. 13.40% of the stock is owned by insiders.

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.