334 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Bought by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 334 shares of the bank's stock, valued at approximately $619,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FCNCA. Atria Wealth Solutions Inc. increased its position in shares of First Citizens BancShares by 106.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 302 shares of the bank's stock valued at $637,000 after buying an additional 156 shares in the last quarter. Private Advisor Group LLC raised its position in First Citizens BancShares by 3.0% during the fourth 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. Concurrent Investment Advisors LLC increased its stake in shares of First Citizens BancShares by 7.3% during the 4th quarter. Concurrent Investment Advisors LLC now owns 117 shares of the bank's stock worth $247,000 after purchasing an additional 8 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of First Citizens BancShares by 3.0% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 3,415 shares of the bank's stock worth $7,216,000 after purchasing an additional 100 shares during the last quarter. Finally, Impact Investors Inc acquired a new position in shares of First Citizens BancShares during the 4th quarter worth approximately $1,416,000. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Stock Up 0.2%

Shares of NASDAQ:FCNCA traded up $3.33 during trading on Wednesday, hitting $1,911.75. The company's stock had a trading volume of 65,666 shares, compared to its average volume of 88,398. The company has a market capitalization of $25.41 billion, a PE ratio of 10.95, a PEG ratio of 0.87 and a beta of 0.64. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.04 and a current ratio of 1.04. The stock's 50-day moving average price is $1,832.25 and its two-hundred day moving average price is $1,944.80.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Friday, May 30th. First Citizens BancShares's payout ratio is currently 4.47%.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 350 shares of the company's stock in a transaction on Friday, May 2nd. The shares were bought at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,758 shares of the company's stock, valued at approximately $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.19% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on FCNCA shares. 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 research note on Tuesday, March 11th. Wall Street Zen cut First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Barclays dropped their price objective on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Cowen began coverage on shares of First Citizens BancShares in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Finally, Jefferies Financial Group started coverage on First Citizens BancShares in a report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.