Live Oak Private Wealth LLC Purchases 1,299 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Live Oak Private Wealth LLC grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 427.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,603 shares of the bank's stock after purchasing an additional 1,299 shares during the period. Live Oak Private Wealth LLC's holdings in First Citizens BancShares were worth $2,972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in FCNCA. Duncker Streett & Co. Inc. acquired a new position in shares of First Citizens BancShares in the fourth quarter worth about $36,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock worth $32,000 after buying an additional 6 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares in the fourth quarter worth about $40,000. Community Bank N.A. acquired a new position in shares of First Citizens BancShares in the first quarter worth about $44,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of First Citizens BancShares in the fourth quarter worth about $77,000. Institutional investors own 78.01% of the company's stock.

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. purchased 350 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were bought at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of First Citizens BancShares in a report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 target price for the company. Wall Street Zen lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Barclays reduced their price target on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group reduced their price target 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 report on Tuesday, March 18th. Finally, TD Cowen started 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 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $2,340.33.

First Citizens BancShares Stock Up 2.5%

FCNCA traded up $48.24 during midday trading on Thursday, hitting $1,959.99. 60,884 shares of the company's stock traded hands, compared to its average volume of 88,492. The company has a market cap of $26.05 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.89 and a beta of 0.64. The stock's fifty day simple moving average is $1,841.52 and its 200-day simple moving average is $1,943.24. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.04 and a quick ratio of 1.04. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year 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 earnings per share for the quarter, beating the consensus estimate of $37.72 by $0.07. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, May 30th. First Citizens BancShares's payout ratio is presently 4.47%.

About First Citizens BancShares

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.