Burney Co. Increases Stake in First Citizens BancShares, Inc. $FCNCA

Key Points

• Burney Co. raised its stake in First Citizens BancShares by 384.3% in Q4, purchasing 1,026 shares to own 1,293 shares valued at about $2.775 million.
• CEO Frank B. Holding, Jr. bought 92 shares at roughly $1,550 each, increasing his holding to 2,841 shares; insiders acquired 258 shares in the last 90 days and now own 14.63% of the company.
• Analysts carry a consensus “Moderate Buy” rating with a $2,227.08 price target, and the firm recently posted an EPS beat ($51.27 vs. $44.24) while trading near a $23.8 billion market cap and paying an $8.40 annual dividend (≈0.4% yield).

Burney Co. raised its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 384.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,293 shares of the bank's stock after buying an additional 1,026 shares during the quarter. Burney Co.'s holdings in First Citizens BancShares were worth $2,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in FCNCA. U.S. Capital Wealth Advisors LLC grew its holdings in shares of First Citizens BancShares by 19.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 1,205 shares of the bank's stock valued at $2,586,000 after purchasing an additional 200 shares in the last quarter. Choreo LLC grew its holdings in shares of First Citizens BancShares by 14.1% in the fourth quarter. Choreo LLC now owns 227 shares of the bank's stock valued at $490,000 after purchasing an additional 28 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in shares of First Citizens BancShares by 18.8% in the fourth quarter. Personal CFO Solutions LLC now owns 221 shares of the bank's stock valued at $475,000 after purchasing an additional 35 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at $234,000. Finally, Greenleaf Trust grew its holdings in shares of First Citizens BancShares by 4.1% in the fourth quarter. Greenleaf Trust now owns 433 shares of the bank's stock valued at $929,000 after purchasing an additional 17 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 92 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was acquired at an average cost of $1,550.00 per share, for a total transaction of $142,600.00. Following the completion of the transaction, the chief executive officer owned 2,841 shares in the company, valued at $4,403,550. This trade represents a 3.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 258 shares of company stock worth $404,236 in the last ninety days. 14.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on FCNCA. Keefe, Bruyette & Woods cut their target price on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an "outperform" rating for the company in a report on Thursday. Wall Street Zen raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Truist Financial raised their target price on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a "hold" rating in a report on Monday, January 26th. TD Cowen cut their target price on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a "buy" rating for the company in a report on Monday, January 26th. Finally, Zacks Research raised shares of First Citizens BancShares from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,227.08.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $1,989.75 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. The company has a fifty day moving average of $1,948.66 and a two-hundred day moving average of $1,945.67. The firm has a market capitalization of $23.76 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.48 and a beta of 0.65. First Citizens BancShares, Inc. has a 52 week low of $1,581.27 and a 52 week high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%.The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. On average, analysts predict 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 was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, February 27th. First Citizens BancShares's dividend payout ratio (DPR) is 5.07%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.

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