142 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Acquired by Ground Swell Capital LLC

Ground Swell Capital LLC purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 142 shares of the bank's stock, valued at approximately $300,000.

Several other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 103,137 shares during the period. FMR LLC lifted its position 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 purchasing an additional 34,097 shares during the period. Capital International Investors lifted its position 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 purchasing 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 about $298,426,000. Finally, Northern Trust Corp lifted its position 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 purchasing an additional 11,122 shares during the period. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Up 5.4%

First Citizens BancShares stock traded up $98.70 during trading hours on Monday, hitting $1,940.30. The stock had a trading volume of 102,255 shares, compared to its average volume of 89,590. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $26.34 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The stock's 50-day moving average price is $1,771.57 and its 200-day moving average price is $2,008.96.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its 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 business had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.95 dividend. 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 presently 4.47%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target 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. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target for the company in a research report on Tuesday, March 11th. The Goldman Sachs Group lowered 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. Barclays lowered their price target on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Finally, Truist Financial lifted 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,330.82.

Insider Transactions at First Citizens BancShares

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

First Citizens BancShares Company 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.