Kingswood Wealth Advisors LLC Purchases Shares of 237 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Kingswood Wealth Advisors LLC bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 237 shares of the bank's stock, valued at approximately $439,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sowell Financial Services LLC purchased a new position in First Citizens BancShares in the first quarter worth approximately $908,000. Janney Montgomery Scott LLC lifted its position in shares of First Citizens BancShares by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,991 shares of the bank's stock worth $7,402,000 after purchasing an additional 202 shares during the last quarter. Dover Advisors LLC purchased a new stake in shares of First Citizens BancShares during the 1st quarter worth $682,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of First Citizens BancShares by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,788 shares of the bank's stock worth $8,878,000 after purchasing an additional 107 shares during the last quarter. Finally, Simon Quick Advisors LLC lifted its position in shares of First Citizens BancShares by 24.0% during the 1st quarter. Simon Quick Advisors LLC now owns 129 shares of the bank's stock worth $239,000 after purchasing an additional 25 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,870.32 on Friday. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The company has a market capitalization of $24.86 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 0.87 and a beta of 0.64. The firm has a 50-day simple moving average of $1,823.72 and a 200-day simple moving average of $1,948.92. 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 posted its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, topping 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 company had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. On average, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCNCA. Barclays decreased their price target 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. Wall Street Zen cut First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. 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. Jefferies Financial Group started coverage on shares of First Citizens BancShares in a research report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price objective for the company. Finally, TD Cowen started 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 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, First Citizens BancShares has a consensus rating of "Moderate Buy" and an average price target of $2,340.33.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. acquired 350 shares of First Citizens BancShares stock in a transaction that occurred on Friday, May 2nd. The stock was 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 directly owns 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.40% of the company's stock.

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.

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