Vident Advisory LLC Grows Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Vident Advisory LLC boosted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 3,688.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,594 shares of the bank's stock after purchasing an additional 11,288 shares during the period. Vident Advisory LLC owned about 0.08% of First Citizens BancShares worth $24,498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Barclays PLC lifted its position in shares of First Citizens BancShares by 19.2% in the third quarter. Barclays PLC now owns 7,195 shares of the bank's stock valued at $13,246,000 after acquiring an additional 1,158 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after acquiring an additional 18,501 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of First Citizens BancShares by 25.1% in the fourth quarter. Park Avenue Securities LLC now owns 494 shares of the bank's stock valued at $1,044,000 after acquiring an additional 99 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of First Citizens BancShares by 33.3% in the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank's stock valued at $57,000 after acquiring an additional 7 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at about $427,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. This trade represents a 1.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank B. Holding, Jr. acquired 350 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was purchased 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 owns 2,758 shares of the company's stock, valued at $4,440,380. This represents a 14.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on FCNCA. Truist Financial boosted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. 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 on the stock in a research report on Tuesday, March 18th. TD Cowen began coverage on First Citizens BancShares in a research report on Thursday. They issued a "buy" rating and a $2,400.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $2,336.58.

First Citizens BancShares Trading Down 0.7%

Shares of FCNCA stock opened at $1,953.58 on Monday. 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 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock's 50 day simple moving average is $1,784.78 and its two-hundred day simple moving average is $2,009.37. The company has a market cap of $25.96 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. The firm had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $1.95 per share. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.40%. First Citizens BancShares's dividend payout ratio is 4.47%.

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.

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