Kingswood Wealth Advisors LLC Takes Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Kingswood Wealth Advisors LLC purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 237 shares of the bank's stock, valued at approximately $439,000.

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

First Citizens BancShares Trading Up 0.2%

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 stock has a market cap of $25.41 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 0.89 and a beta of 0.64. 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 company has a fifty day simple moving average of $1,836.65 and a two-hundred day simple moving average of $1,944.57. 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 released its quarterly earnings results 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 company had revenue of $2.30 billion for 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%. As a group, equities analysts forecast 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. Shareholders of record on Friday, May 30th were given a dividend of $1.95 per share. 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%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FCNCA shares. Jefferies Financial Group started coverage on 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. TD Cowen started coverage on First Citizens BancShares in a research note on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price target for the company. Wall Street Zen downgraded 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 price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Finally, Cowen initiated coverage on First Citizens BancShares in a research report on Wednesday, May 14th. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,340.33.

Insider Activity

In related news, CEO Frank B. Holding, Jr. bought 350 shares of the company'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 purchase, the chief executive officer now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 13.40% of the company's stock.

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.