Axxcess Wealth Management LLC Makes New Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Axxcess Wealth Management LLC bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,135 shares of the bank's stock, valued at approximately $2,105,000.

A number of other large investors also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB boosted its stake in shares of First Citizens BancShares by 54.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock valued at $32,000 after purchasing an additional 6 shares in the last quarter. Community Bank N.A. bought a new stake in shares of First Citizens BancShares during the 1st quarter valued at about $44,000. Wayfinding Financial LLC bought a new stake in shares of First Citizens BancShares during the 1st quarter valued at about $64,000. Toth Financial Advisory Corp boosted its stake in shares of First Citizens BancShares by 263.6% during the 1st quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock valued at $74,000 after purchasing an additional 29 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of First Citizens BancShares during the 4th quarter valued at about $77,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

Analyst Ratings Changes

FCNCA has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a research note on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price objective on the stock. 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. Barclays decreased their target price 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 report on Friday, April 25th. UBS Group reaffirmed a "buy" rating and issued a $2,410.00 target price on shares of First Citizens BancShares in a report on Wednesday. Finally, Cowen initiated coverage on shares of First Citizens BancShares in a report on Wednesday, May 14th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $2,299.50.

First Citizens BancShares Price Performance

FCNCA stock traded down $14.07 during trading on Friday, hitting $2,117.62. The stock had a trading volume of 78,369 shares, compared to its average volume of 89,214. The company's 50 day moving average price is $1,907.01 and its two-hundred day moving average price is $1,940.39. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The stock has a market cap of $28.14 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.64. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.04 and a current ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating the consensus estimate of $37.72 by $0.07. The company had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. On average, sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. purchased 350 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were purchased 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 approximately $4,440,380. This represents a 14.53% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 13.40% of the stock is currently owned by corporate insiders.

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.