Mosaic Family Wealth Partners LLC Makes New $239,000 Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mosaic Family Wealth Partners LLC acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 129 shares of the bank's stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FCNCA. Norges Bank purchased a new stake in First Citizens BancShares in the fourth quarter valued at $298,426,000. GAMMA Investing LLC grew its holdings in shares of First Citizens BancShares by 169,861.1% during the first quarter. GAMMA Investing LLC now owns 122,372 shares of the bank's stock worth $226,892,000 after purchasing an additional 122,300 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of First Citizens BancShares by 35.7% during the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock worth $828,510,000 after purchasing an additional 103,137 shares in the last quarter. Capital International Investors lifted its holdings in shares of First Citizens BancShares by 78.2% in the 4th quarter. Capital International Investors now owns 172,723 shares of the bank's stock valued at $364,967,000 after purchasing an additional 75,785 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of First Citizens BancShares by 83.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,523 shares of the bank's stock valued at $227,198,000 after purchasing an additional 48,994 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

Insider Activity

In related news, CEO Frank B. Holding, Jr. purchased 350 shares of the company'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 completion of the transaction, the chief executive officer owned 2,758 shares of the company's stock, valued at approximately $4,440,380. This represents a 14.53% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FCNCA shares. UBS Group reaffirmed a "buy" rating and issued a $2,410.00 target price on shares of First Citizens BancShares in a report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Cowen initiated coverage on First Citizens BancShares in a research report on Wednesday, May 14th. They set a "buy" rating for the company. TD Cowen initiated coverage on First Citizens BancShares in a research note on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 target price on the stock. Finally, Citigroup upped their price target on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, First Citizens BancShares presently has an average rating of "Moderate Buy" and a consensus price target of $2,299.50.

First Citizens BancShares Price Performance

FCNCA stock traded up $40.43 during trading on Thursday, reaching $2,124.91. 40,610 shares of the company were exchanged, compared to its average volume of 84,700. The stock's 50 day moving average price is $1,925.05 and its 200 day moving average price is $1,939.56. The company has a market cap of $28.24 billion, a P/E ratio of 12.17, a PEG ratio of 0.96 and a beta of 0.64. 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, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its 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, analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal 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. This represents a $7.80 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Friday, May 30th. First Citizens BancShares's payout ratio is currently 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.