Janney Montgomery Scott LLC Has $7.40 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Janney Montgomery Scott LLC grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,991 shares of the bank's stock after buying an additional 202 shares during the quarter. Janney Montgomery Scott LLC's holdings in First Citizens BancShares were worth $7,402,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at approximately $298,426,000. GAMMA Investing LLC increased its stake in shares of First Citizens BancShares by 169,861.1% in the first quarter. GAMMA Investing LLC now owns 122,372 shares of the bank's stock worth $226,892,000 after buying an additional 122,300 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of First Citizens BancShares by 35.7% in the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock worth $828,510,000 after buying an additional 103,137 shares during the last quarter. Capital International Investors raised its holdings in First Citizens BancShares by 78.2% in the fourth quarter. Capital International Investors now owns 172,723 shares of the bank's stock valued at $364,967,000 after acquiring an additional 75,785 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in First Citizens BancShares during the 4th quarter valued at $147,341,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FCNCA shares. Cowen initiated coverage on First Citizens BancShares in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Wall Street Zen lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note 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 on the stock in a research report on Friday, April 25th. TD Cowen started coverage on shares of First Citizens BancShares in a research note on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their target price 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 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,340.33.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA traded up $3.33 during trading on Wednesday, hitting $1,911.75. The company had a trading volume of 70,486 shares, compared to its average volume of 88,546. The company has a market cap of $25.41 billion, a P/E ratio of 10.95, a PEG ratio of 0.89 and a beta of 0.64. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The business's 50-day moving average is $1,836.65 and its 200 day moving average is $1,944.57. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.04 and a current ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. Equities research 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 firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a $1.95 dividend. The ex-dividend date was Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.41%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 350 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was bought at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the purchase, the chief executive officer now directly owns 2,758 shares of the company's stock, valued at approximately $4,440,380. This represents a 14.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.40% of the stock is currently owned by insiders.

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.