First Citizens BancShares, Inc. (NASDAQ:FCNCA) is Jacobs Asset Management LLC's 2nd Largest Position

Jacobs Asset Management LLC trimmed its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the bank's stock after selling 250 shares during the quarter. First Citizens BancShares accounts for 7.6% of Jacobs Asset Management LLC's holdings, making the stock its 2nd largest holding. Jacobs Asset Management LLC's holdings in First Citizens BancShares were worth $12,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of FCNCA. Mather Group LLC. lifted its holdings in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after buying an additional 5 shares during the last quarter. Private Advisor Group LLC increased its stake in First Citizens BancShares by 3.0% in the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock valued at $363,000 after purchasing an additional 5 shares during the last quarter. Exencial Wealth Advisors LLC raised its holdings in First Citizens BancShares by 1.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock worth $904,000 after purchasing an additional 5 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of First Citizens BancShares by 3.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock valued at $328,000 after buying an additional 5 shares in the last quarter. Finally, Hemington Wealth Management boosted its holdings in shares of First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after buying an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of research reports. The Goldman Sachs Group reduced their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods increased their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Truist Financial upped their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. StockNews.com lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Finally, Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,330.82.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,841.60 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. 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 $25.00 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The stock has a 50 day simple moving average of $1,770.60 and a 200-day simple moving average of $2,007.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its 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 net margin of 18.55% and a return on equity of 13.22%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. On average, equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

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 given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.42%. First Citizens BancShares's payout ratio is currently 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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