First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers grew its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,453 shares of the bank's stock after purchasing an additional 243 shares during the quarter. Cetera Investment Advisers' holdings in First Citizens BancShares were worth $3,069,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FCNCA. Norges Bank bought a new position in shares of First Citizens BancShares in the fourth quarter valued at about $298,426,000. JPMorgan Chase & Co. lifted its stake in First Citizens BancShares by 35.7% in the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock valued at $828,510,000 after buying an additional 103,137 shares in the last quarter. Capital International Investors raised its stake in shares of First Citizens BancShares by 78.2% in the 4th quarter. Capital International Investors now owns 172,723 shares of the bank's stock valued at $364,967,000 after purchasing an additional 75,785 shares during the period. Proficio Capital Partners LLC bought a new position in shares of First Citizens BancShares in the 4th quarter valued at about $147,341,000. Finally, AMF Tjanstepension AB bought a new stake in shares of First Citizens BancShares in the 4th quarter valued at about $99,818,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Insider Buying and Selling at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares 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 purchase, the chief financial officer now owns 1,141 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank B. Holding, Jr. purchased 350 shares of the firm's stock in a transaction dated 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 completion of 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 company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FCNCA shares. Barclays reduced their price objective on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods upped their price target on 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 raised their price objective 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 reduced their price objective 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 note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,340.33.

First Citizens BancShares Trading Down 3.9%

Shares of NASDAQ FCNCA traded down $74.53 during mid-day trading on Wednesday, reaching $1,843.67. The company had a trading volume of 39,065 shares, compared to its average volume of 85,903. The stock has a market cap of $24.50 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The business's 50-day moving average is $1,792.01 and its 200-day moving average is $2,008.81. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. 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 announced its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, topping the consensus estimate of $37.72 by $0.07. The firm had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's dividend payout ratio is currently 4.47%.

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.