First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 24.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,801 shares of the bank's stock after purchasing an additional 1,125 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in First Citizens BancShares were worth $10,756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FCNCA. Private Advisor Group LLC grew its position in First Citizens BancShares by 3.0% in the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock valued at $363,000 after acquiring an additional 5 shares during the last quarter. Exencial Wealth Advisors LLC increased its stake in First Citizens BancShares by 1.2% in the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock worth $904,000 after buying an additional 5 shares during the period. Gamco Investors INC. ET AL lifted its holdings in First Citizens BancShares by 3.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock valued at $328,000 after buying an additional 5 shares in the last quarter. JT Stratford LLC grew its stake in First Citizens BancShares by 0.4% in the 4th quarter. JT Stratford LLC now owns 1,247 shares of the bank's stock worth $2,635,000 after acquiring an additional 5 shares in the last quarter. Finally, Hemington Wealth Management grew its stake in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after acquiring an additional 6 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Price Performance

First Citizens BancShares stock traded down $22.59 during trading hours on Friday, hitting $1,818.68. The stock had a trading volume of 70,915 shares, compared to its average volume of 87,979. 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 capitalization of $24.17 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 0.94 and a beta of 0.64. The stock's fifty day moving average is $1,806.62 and its two-hundred day moving average is $1,965.53. 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 (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. The company 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%. As a group, analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 350 shares of the firm'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 transaction, the chief executive officer now owns 2,758 shares in the company, valued at $4,440,380. The trade was a 14.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.40% of the stock is owned by insiders.

Analyst Ratings Changes

FCNCA has been the topic of several research analyst reports. Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, March 11th. Barclays decreased their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Cowen started coverage on shares of First Citizens BancShares in a report on Wednesday, May 14th. They set a "buy" rating on the stock. TD Cowen began coverage on shares of First Citizens BancShares in a research report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 target price on the stock. Finally, 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 on the stock in a research note on Tuesday, March 18th. 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's stock. According to data from MarketBeat, First Citizens BancShares has an average rating of "Moderate Buy" and a consensus target price of $2,340.33.

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.