Live Oak Private Wealth LLC Increases Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Live Oak Private Wealth LLC boosted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 427.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,603 shares of the bank's stock after buying an additional 1,299 shares during the quarter. Live Oak Private Wealth LLC's holdings in First Citizens BancShares were worth $2,972,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Securities Inc. grew its holdings in First Citizens BancShares by 35.0% during the 4th quarter. Principal Securities Inc. now owns 166 shares of the bank's stock worth $351,000 after acquiring an additional 43 shares during the period. CIBC Asset Management Inc boosted its position in shares of First Citizens BancShares by 9.1% during the 4th quarter. CIBC Asset Management Inc now owns 549 shares of the bank's stock valued at $1,160,000 after purchasing an additional 46 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in First Citizens BancShares by 106.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 302 shares of the bank's stock worth $637,000 after purchasing an additional 156 shares during the period. Private Advisor Group LLC grew its stake in First Citizens BancShares by 3.0% during the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock worth $363,000 after purchasing an additional 5 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in First Citizens BancShares by 15.0% in the fourth quarter. Handelsbanken Fonder AB now owns 3,072 shares of the bank's stock worth $6,491,000 after purchasing an additional 400 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were acquired at an average cost 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 of the company's stock, valued at approximately $4,440,380. The trade was a 14.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of research reports. TD Cowen began coverage on shares of First Citizens BancShares in a report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price target for the company. Cowen initiated coverage on First Citizens BancShares in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Barclays decreased their target price on 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. Jefferies Financial Group assumed coverage on First Citizens BancShares in a report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price objective on 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and an average target price of $2,340.33.

First Citizens BancShares Stock Up 1.0%

NASDAQ FCNCA traded up $18.91 during trading hours on Tuesday, reaching $1,908.42. 82,149 shares of the company's stock traded hands, compared to its average volume of 88,469. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,412.93. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a 50-day simple moving average of $1,832.25 and a 200 day simple moving average of $1,944.80. The firm has a market cap of $25.36 billion, a PE ratio of 10.93, a PEG ratio of 0.87 and a beta of 0.64.

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

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, May 30th. First Citizens BancShares's dividend payout ratio is currently 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.