Carolinas Wealth Consulting LLC Acquires 233 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Carolinas Wealth Consulting LLC raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 1,456.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 249 shares of the bank's stock after purchasing an additional 233 shares during the period. Carolinas Wealth Consulting LLC's holdings in First Citizens BancShares were worth $524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC grew its position in shares of First Citizens BancShares by 19.2% during the 3rd quarter. Barclays PLC now owns 7,195 shares of the bank's stock valued at $13,246,000 after buying an additional 1,158 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of First Citizens BancShares by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after buying an additional 18,501 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of First Citizens BancShares by 0.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,789 shares of the bank's stock valued at $8,006,000 after buying an additional 29 shares during the last quarter. Gradient Investments LLC bought a new stake in shares of First Citizens BancShares during the 4th quarter valued at about $801,000. Finally, Affinity Wealth Management LLC grew its position in shares of First Citizens BancShares by 6.7% during the 4th quarter. Affinity Wealth Management LLC now owns 478 shares of the bank's stock valued at $1,010,000 after buying an additional 30 shares during the last quarter. Institutional investors own 78.01% of the company's stock.

Insider Activity at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 350 shares of the business's stock in a transaction on Friday, May 2nd. The stock was bought at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the transaction, the chief executive officer now directly owns 2,758 shares in the company, valued at $4,440,380. This represents a 14.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Craig L. Nix bought 17 shares of the business's stock in a transaction on Friday, March 7th. The stock was bought at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.19% of the stock is owned by insiders.

First Citizens BancShares Price Performance

FCNCA stock traded up $10.36 on Thursday, hitting $1,844.25. 111,882 shares of the company's stock traded hands, compared to its average volume of 89,168. 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 $24.51 billion, a price-to-earnings ratio of 9.74, a P/E/G ratio of 0.94 and a beta of 0.64. The stock has a fifty day moving average of $1,791.20 and a 200-day moving average of $1,998.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its 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. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.22 billion. On average, analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FCNCA. Cowen started coverage on shares of First Citizens BancShares in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Truist Financial boosted their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a research note on Tuesday, March 11th. The Goldman Sachs Group reduced their target price 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. 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, First Citizens BancShares has a consensus rating of "Moderate Buy" and a consensus target price of $2,340.33.

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.