Kovitz Investment Group Partners LLC Purchases Shares of 141 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Kovitz Investment Group Partners LLC bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 141 shares of the bank's stock, valued at approximately $298,000.

A number of other hedge funds have also recently made changes to their positions in FCNCA. Norges Bank purchased a new stake in First Citizens BancShares during the 4th quarter valued at $298,426,000. JPMorgan Chase & Co. boosted its position in shares of First Citizens BancShares by 35.7% during the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock valued at $828,510,000 after buying an additional 103,137 shares during the last quarter. Capital International Investors increased its holdings in 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 in the last quarter. Proficio Capital Partners LLC purchased a new position in First Citizens BancShares in the 4th quarter worth about $147,341,000. Finally, AMF Tjanstepension AB purchased a new stake in shares of First Citizens BancShares during the 4th quarter valued at about $99,818,000. 78.01% of the stock is owned by institutional investors.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The stock was bought 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 owns 1,141 shares of the company's stock, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 13.40% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on FCNCA. StockNews.com lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. The Goldman Sachs Group dropped their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. JPMorgan Chase & Co. upped their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Barclays cut their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Truist Financial raised 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 note on Wednesday, January 29th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,330.82.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA traded up $11.97 during midday trading on Monday, reaching $1,843.29. 75,993 shares of the company were exchanged, compared to its average volume of 88,722. The business's fifty day moving average is $1,785.21 and its two-hundred day moving average is $2,014.55. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The stock has a market cap of $25.03 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. 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 (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, beating the consensus estimate of $37.72 by $0.07. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, analysts predict 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 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 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%.

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.