First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 60.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 508 shares of the bank's stock after acquiring an additional 191 shares during the period. Quantinno Capital Management LP's holdings in First Citizens BancShares were worth $1,074,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FCNCA. Financial Life Planners acquired a new position in shares of First Citizens BancShares during the 4th quarter worth about $33,000. Hemington Wealth Management raised its position 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 worth $33,000 after purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of First Citizens BancShares during the 4th quarter worth about $36,000. Mather Group LLC. raised its position in shares of 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 purchasing an additional 5 shares during the last quarter. Finally, Asset Planning Inc acquired a new position in shares of First Citizens BancShares during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Stock Down 0.0%

Shares of NASDAQ FCNCA opened at $1,841.04 on Friday. The company has a 50 day simple moving average of $1,792.78 and a 200-day simple moving average of $2,007.21. The company has a market capitalization of $24.47 billion, a P/E ratio of 9.72, a P/E/G ratio of 0.94 and a beta of 0.64. 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 1 year low of $1,473.62 and a 1 year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. The firm had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. First Citizens BancShares's payout ratio is currently 4.47%.

Insider Buying and Selling

In related news, CFO Craig L. Nix acquired 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 transaction, the chief financial officer now owns 1,141 shares of the company's stock, valued at approximately $2,146,369.33. This trade represents a 1.51% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frank B. Holding, Jr. purchased 350 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $1,610.00 per share, with a total value 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 trade represents a 14.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FCNCA has been the subject of several research reports. The Goldman Sachs Group dropped 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. Keefe, Bruyette & Woods upped their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Truist Financial upped their price objective 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 price objective for the company in a research note on Tuesday, March 11th. Finally, Cowen initiated coverage on shares of First Citizens BancShares in a research note on Wednesday, May 14th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average 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.

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