Northern Trust Corp Buys 11,122 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Northern Trust Corp lifted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,739 shares of the bank's stock after purchasing an additional 11,122 shares during the quarter. Northern Trust Corp owned about 0.55% of First Citizens BancShares worth $162,151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Life Planners acquired a new stake in shares of First Citizens BancShares in the 4th quarter valued at about $33,000. Hemington Wealth Management grew its holdings in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after buying an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new position in shares of First Citizens BancShares during the 4th quarter worth about $36,000. Mather Group LLC. grew its holdings in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after purchasing an additional 5 shares during the period. Finally, Asset Planning Inc purchased a new stake in shares of First Citizens BancShares during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FCNCA. StockNews.com downgraded First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Barclays cut their target price on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a research report on Tuesday, March 11th. 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 on the stock in a report on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $2,330.82.

First Citizens BancShares Trading Up 2.9 %

NASDAQ:FCNCA traded up $52.48 during mid-day trading on Thursday, hitting $1,847.17. The company had a trading volume of 22,066 shares, compared to its average volume of 89,131. The business's fifty day moving average is $1,774.99 and its two-hundred day moving average is $2,011.40. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The firm has a market cap of $25.08 billion, a P/E ratio of 9.73, a P/E/G ratio of 0.94 and a beta of 0.64. 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 announced its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $37.72 by $0.07. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.42%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Insiders Place Their Bets

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 350 shares of First Citizens BancShares stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,758 shares of the company's stock, valued at $4,440,380. This represents a 14.53 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Craig L. Nix bought 17 shares of the stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51 % 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.

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.