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

Vident Advisory LLC grew its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 3,688.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,594 shares of the bank's stock after buying an additional 11,288 shares during the period. Vident Advisory LLC owned approximately 0.08% of First Citizens BancShares worth $24,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of First Citizens BancShares by 35.7% in the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock worth $828,510,000 after buying an additional 103,137 shares during the period. FMR LLC lifted its holdings in shares of First Citizens BancShares by 10.5% in the 4th quarter. FMR LLC now owns 357,629 shares of the bank's stock worth $755,677,000 after buying an additional 34,097 shares during the period. 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 worth $364,967,000 after buying an additional 75,785 shares during the period. Norges Bank purchased a new stake in shares of First Citizens BancShares in the 4th quarter worth $298,426,000. Finally, Northern Trust Corp lifted its holdings in shares of First Citizens BancShares by 16.9% in the 4th quarter. Northern Trust Corp now owns 76,739 shares of the bank's stock worth $162,151,000 after buying an additional 11,122 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Price Performance

Shares of FCNCA traded down $18.77 during trading hours on Friday, hitting $1,822.27. 45,012 shares of the stock were exchanged, compared to its average volume of 88,934. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The company has a market cap of $24.22 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The stock's 50-day moving average price is $1,792.52 and its two-hundred day moving average price is $2,006.53.

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

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's payout ratio is currently 4.47%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FCNCA shares. Keefe, Bruyette & Woods increased their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. The Goldman Sachs Group lowered 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 research report on Tuesday, March 18th. Truist Financial upped their price objective 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. Cowen assumed coverage on First Citizens BancShares in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, TD Cowen assumed coverage on First Citizens BancShares in a research report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price objective on the stock. One 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's stock. According to data from MarketBeat.com, First Citizens BancShares has an average rating of "Moderate Buy" and an average target price of $2,340.33.

Insider Buying and Selling at First Citizens BancShares

In other news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank B. Holding, Jr. purchased 350 shares of First Citizens BancShares stock in a transaction dated Friday, May 2nd. The shares were purchased at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the transaction, the chief executive officer now owns 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53% increase in their position. The disclosure for this purchase can be found here. 13.40% of the stock is owned by company 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.