Janney Montgomery Scott LLC Buys 202 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Janney Montgomery Scott LLC raised its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,991 shares of the bank's stock after purchasing an additional 202 shares during the period. Janney Montgomery Scott LLC's holdings in First Citizens BancShares were worth $7,402,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several research analyst reports. The Goldman Sachs Group lowered their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, March 11th. Cowen started coverage on First Citizens BancShares in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. TD Cowen started coverage on First Citizens BancShares in a research report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 target price on the stock. Finally, Barclays decreased their target price on 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,340.33.

Insider Activity

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 350 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were purchased at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the purchase, the chief executive officer now owns 2,758 shares in the company, valued at $4,440,380. This represents a 14.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 13.40% of the company's stock.

First Citizens BancShares Trading Up 1.4%

Shares of FCNCA stock opened at $1,870.32 on Friday. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year 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 stock's 50 day simple moving average is $1,823.72 and its two-hundred day simple moving average is $1,948.92. The company has a market cap of $24.86 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 0.87 and a beta of 0.64.

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 (EPS) for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. Research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were paid a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. First Citizens BancShares's dividend payout ratio is 4.47%.

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.

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