463 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 463 shares of the bank's stock, valued at approximately $858,000.

Several other large investors also recently bought and sold shares of the business. Stieven Capital Advisors L.P. increased its position in First Citizens BancShares by 13.1% during the first quarter. Stieven Capital Advisors L.P. now owns 7,507 shares of the bank's stock valued at $13,919,000 after acquiring an additional 870 shares during the last quarter. Axxcess Wealth Management LLC bought a new position in First Citizens BancShares during the first quarter valued at $2,105,000. Personal CFO Solutions LLC increased its position in First Citizens BancShares by 20.0% during the first quarter. Personal CFO Solutions LLC now owns 150 shares of the bank's stock valued at $278,000 after acquiring an additional 25 shares during the last quarter. M&T Bank Corp increased its position in First Citizens BancShares by 1.3% during the first quarter. M&T Bank Corp now owns 632 shares of the bank's stock valued at $1,172,000 after acquiring an additional 8 shares during the last quarter. Finally, Horst & Graben Wealth Management LLC bought a new position in First Citizens BancShares during the first quarter valued at $226,000. Institutional investors own 78.01% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FCNCA shares. JPMorgan Chase & Co. boosted their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Citigroup boosted their target price on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Cowen started coverage on shares of First Citizens BancShares in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Wall Street Zen lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Finally, TD Cowen started coverage on shares of First Citizens BancShares in a research note on Thursday, May 15th. They set a "buy" rating and a $2,400.00 target price for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,299.50.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. acquired 350 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were acquired 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 directly owned 2,758 shares of the company's stock, valued at $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 13.40% of the company's stock.

First Citizens BancShares Stock Performance

FCNCA opened at $2,123.59 on Friday. 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 quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.77. The company has a market cap of $28.22 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 0.98 and a beta of 0.64. The firm's 50-day moving average price is $1,936.36 and its 200-day moving average price is $1,938.43.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. The firm 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 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $1.95 dividend. The ex-dividend date was Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.37%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

First Citizens BancShares Company 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.

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