Cary Street Partners Financial LLC Acquires New Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cary Street Partners Financial LLC bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 153 shares of the bank's stock, valued at approximately $323,000.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners acquired a new stake in First Citizens BancShares in the fourth quarter valued at approximately $33,000. Hemington Wealth Management lifted its stake in shares of First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. bought a new stake in First Citizens BancShares in the fourth quarter worth $36,000. Mather Group LLC. increased its position in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after buying an additional 5 shares during the last quarter. Finally, Asset Planning Inc bought a new position in First Citizens BancShares during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Stock Performance

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

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 18.55% and a return on equity of 13.22%. Sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The business 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 $1.95 dividend. The ex-dividend date 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 currently 4.47%.

Insider Transactions at First Citizens BancShares

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Piper Sandler raised 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. Barclays lowered their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Keefe, Bruyette & Woods upped their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Truist Financial lifted 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 report on Wednesday, January 29th. Finally, The Goldman Sachs Group cut their target price on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,330.82.

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.

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