Cetera Investment Advisers Grows Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cetera Investment Advisers increased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,453 shares of the bank's stock after purchasing an additional 243 shares during the period. Cetera Investment Advisers' holdings in First Citizens BancShares were worth $3,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCNCA. Barclays PLC grew its stake in First Citizens BancShares by 19.2% in the third quarter. Barclays PLC now owns 7,195 shares of the bank's stock worth $13,246,000 after purchasing an additional 1,158 shares during the period. JPMorgan Chase & Co. boosted its holdings in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock worth $531,961,000 after acquiring an additional 18,501 shares in the last quarter. Wedmont Private Capital bought a new stake in First Citizens BancShares in the fourth quarter worth $219,000. SeaCrest Wealth Management LLC boosted its holdings in First Citizens BancShares by 20.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 214 shares of the bank's stock worth $453,000 after acquiring an additional 37 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in First Citizens BancShares by 25.1% in the fourth quarter. Park Avenue Securities LLC now owns 494 shares of the bank's stock worth $1,044,000 after acquiring an additional 99 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

FCNCA stock traded down $0.69 during trading on Thursday, reaching $1,841.08. The stock had a trading volume of 7,470 shares, compared to its average volume of 88,853. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The stock's 50 day moving average is $1,792.69 and its two-hundred day moving average is $2,007.66. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market cap of $24.47 billion, a PE ratio of 9.70, a PEG ratio of 0.94 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

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

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frank B. Holding, Jr. purchased 350 shares of First Citizens BancShares stock in a transaction on Friday, May 2nd. The stock was bought at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 13.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on FCNCA. Barclays dropped their target price 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. Truist Financial boosted their target price on 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. Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Cowen assumed coverage on First Citizens BancShares in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Finally, TD Cowen assumed coverage on First Citizens BancShares in a report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,340.33.

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.