Teachers Retirement System of The State of Kentucky Buys 800 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Teachers Retirement System of The State of Kentucky raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 11.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,741 shares of the bank's stock after purchasing an additional 800 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of First Citizens BancShares worth $14,353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in First Citizens BancShares by 54.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock valued at $32,000 after acquiring an additional 6 shares in the last quarter. Community Bank N.A. bought a new position in First Citizens BancShares in the first quarter valued at approximately $44,000. Wayfinding Financial LLC bought a new position in First Citizens BancShares in the first quarter valued at approximately $64,000. Toth Financial Advisory Corp lifted its position in shares of First Citizens BancShares by 263.6% in the first quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock worth $74,000 after purchasing an additional 29 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of First Citizens BancShares in the fourth quarter worth $77,000. 78.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FCNCA. Jefferies Financial Group began coverage on shares of First Citizens BancShares in a research note on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price target on the stock. UBS Group restated a "buy" rating and issued a $2,410.00 price target on shares of First Citizens BancShares in a research note on Wednesday, July 9th. JPMorgan Chase & Co. upped their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. TD Cowen began 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, Cowen began coverage on shares of First Citizens BancShares in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares presently has an average rating of "Moderate Buy" and a consensus target price of $2,299.50.

First Citizens BancShares Stock Down 0.0%

FCNCA stock traded down $0.04 during trading on Thursday, hitting $2,158.19. 24,913 shares of the stock traded hands, compared to its average volume of 83,868. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The firm's 50 day moving average is $1,947.33 and its two-hundred day moving average is $1,939.92. The stock has a market cap of $28.68 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 0.98 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.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

Insider Activity

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 350 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the acquisition, the chief executive officer owned 2,758 shares in the company, valued at $4,440,380. This represents a 14.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.