Castlekeep Investment Advisors LLC Takes Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Castlekeep Investment Advisors LLC purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 31,695 shares of the bank's stock, valued at approximately $66,972,000. First Citizens BancShares comprises about 11.0% of Castlekeep Investment Advisors LLC's investment portfolio, making the stock its biggest holding. Castlekeep Investment Advisors LLC owned 0.23% of First Citizens BancShares as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of FCNCA. Financial Life Planners purchased a new stake in First Citizens BancShares during the fourth quarter valued at $33,000. Hemington Wealth Management grew its stake in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after purchasing an additional 6 shares during the period. Duncker Streett & Co. Inc. purchased a new stake in shares of First Citizens BancShares during the 4th quarter valued at about $36,000. Mather Group LLC. lifted its stake in shares of First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after purchasing an additional 5 shares during the period. Finally, Asset Planning Inc bought a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $38,000. Institutional investors own 78.01% of the company's stock.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. purchased 350 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was purchased at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the purchase, the chief executive officer now owns 2,758 shares of the company's stock, valued at approximately $4,440,380. The trade was a 14.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Craig L. Nix purchased 17 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares of the company's stock, valued at $2,146,369.33. This trade represents a 1.51% increase in their position. The disclosure for this purchase can be found here. 13.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FCNCA shares. Barclays cut 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. Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. TD Cowen began coverage on First Citizens BancShares in a research report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price target for the company. Jefferies Financial Group assumed coverage on shares of First Citizens BancShares in a research report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price target for the company. Finally, The Goldman Sachs Group reduced their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,340.33.

First Citizens BancShares Price Performance

FCNCA stock traded down $7.98 during trading on Thursday, hitting $1,825.92. 27,470 shares of the company's stock traded hands, compared to its average volume of 88,766. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The stock has a market capitalization of $24.26 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 0.94 and a beta of 0.64. The business has a fifty day simple moving average of $1,791.20 and a 200 day simple moving average of $1,998.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

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

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.43%. First Citizens BancShares's payout ratio is presently 4.47%.

First Citizens BancShares 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.