MML Investors Services LLC Acquires 219 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

MML Investors Services LLC boosted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 16.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,516 shares of the bank's stock after buying an additional 219 shares during the quarter. MML Investors Services LLC's holdings in First Citizens BancShares were worth $3,203,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FCNCA. Financial Life Planners acquired a new position in First Citizens BancShares in the 4th quarter valued at $33,000. Hemington Wealth Management grew its position in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $36,000. Mather Group LLC. lifted its position in shares of 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 purchasing an additional 5 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in First Citizens BancShares during the 4th quarter valued at approximately $38,000. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Price Performance

First Citizens BancShares stock traded up $64.66 during trading hours on Friday, hitting $1,846.13. 44,303 shares of the stock were exchanged, compared to its average volume of 86,450. The business's 50-day moving average is $1,792.06 and its two-hundred day moving average is $2,018.46. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The stock has a market capitalization of $25.06 billion, a P/E ratio of 9.75, a P/E/G ratio of 0.94 and a beta of 0.66. 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 (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion during 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%. Equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a yield of 0.42%. First Citizens BancShares's payout ratio is 4.47%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group cut their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods raised 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, StockNews.com lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares currently has an average rating of "Moderate Buy" and an average target price of $2,330.82.

Insider Transactions at First Citizens BancShares

In related news, CFO Craig L. Nix purchased 17 shares of the business's stock in a transaction dated 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 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 position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 13.40% of the stock is currently owned by corporate insiders.

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.