First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,755 shares of the bank's stock after purchasing an additional 169 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in First Citizens BancShares were worth $5,108,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FCNCA. MassMutual Private Wealth & Trust FSB grew its holdings in First Citizens BancShares by 54.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock worth $32,000 after acquiring an additional 6 shares in the last quarter. Community Bank N.A. acquired a new position in First Citizens BancShares during the 1st quarter worth approximately $44,000. Johnson Financial Group Inc. acquired a new position in First Citizens BancShares during the 4th quarter worth approximately $77,000. Wayfinding Financial LLC acquired a new position in First Citizens BancShares during the 1st quarter worth approximately $64,000. Finally, Toth Financial Advisory Corp grew its holdings in First Citizens BancShares by 263.6% during the 1st quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock worth $74,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

Insider Activity

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the acquisition, the chief executive officer owned 2,758 shares of the company's stock, valued at approximately $4,440,380. This represents a 14.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares Price Performance

Shares of FCNCA traded up $7.69 during trading hours on Friday, reaching $2,121.49. The company had a trading volume of 8,581 shares, compared to its average volume of 88,836. The firm has a 50 day simple moving average of $1,930.72 and a 200-day simple moving average of $1,939.56. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $28.19 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.96 and a beta of 0.64. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. The firm had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. Research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a dividend of $1.95 per share. The ex-dividend date was Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. First Citizens BancShares's dividend payout ratio is currently 4.47%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FCNCA shares. JPMorgan Chase & Co. boosted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Jefferies Financial Group initiated 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. Citigroup upped their price target on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Wall Street Zen downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Finally, TD Cowen initiated coverage on shares of 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued 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 $2,299.50.

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.