First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 1,456.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 249 shares of the bank's stock after buying an additional 233 shares during the quarter. Carolinas Wealth Consulting LLC's holdings in First Citizens BancShares were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FCNCA. Financial Life Planners bought a new position in shares of First Citizens BancShares during the fourth quarter worth about $33,000. Hemington Wealth Management grew its position in First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after acquiring an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in First Citizens BancShares during the 4th quarter worth about $36,000. Mather Group LLC. lifted its holdings in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after buying an additional 5 shares during the period. Finally, Asset Planning Inc acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FCNCA shares. Jefferies Financial Group assumed coverage on First Citizens BancShares in a research note on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price target on the stock. The Goldman Sachs Group reduced their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Cowen started coverage on First Citizens BancShares in a report on Wednesday, May 14th. They set a "buy" rating for the company. Barclays dropped their target price on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,340.33.

Insider Buying and Selling

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

First Citizens BancShares Stock Down 0.3%

FCNCA traded down $5.77 on Friday, hitting $1,838.48. The company had a trading volume of 164,290 shares, compared to its average volume of 89,378. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. 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 fifty day simple moving average of $1,789.34 and a 200-day simple moving average of $1,994.20. The firm has a market capitalization of $24.43 billion, a P/E ratio of 9.71, a P/E/G ratio of 0.94 and a beta of 0.64.

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

First Citizens BancShares Dividend Announcement

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