Lighthouse Investment Partners LLC Acquires Shares of 907 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Lighthouse Investment Partners LLC purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 907 shares of the bank's stock, valued at approximately $1,917,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Interval Partners LP bought a new stake in First Citizens BancShares in the 4th quarter valued at $5,063,000. Ground Swell Capital LLC bought a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $300,000. Focus Partners Wealth grew its stake in shares of First Citizens BancShares by 47.7% in the fourth quarter. Focus Partners Wealth now owns 229 shares of the bank's stock valued at $505,000 after acquiring an additional 74 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of First Citizens BancShares by 10.5% in the fourth quarter. Driehaus Capital Management LLC now owns 661 shares of the bank's stock valued at $1,397,000 after acquiring an additional 63 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in First Citizens BancShares by 20.1% during the fourth quarter. Cetera Investment Advisers now owns 1,453 shares of the bank's stock worth $3,069,000 after acquiring an additional 243 shares during the period. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Price Performance

Shares of FCNCA traded down $12.11 during midday trading on Monday, hitting $1,941.47. 11,650 shares of the company traded hands, compared to its average volume of 89,140. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The firm has a market cap of $25.80 billion, a P/E ratio of 10.24, a PEG ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a 50-day moving average of $1,784.78 and a 200-day moving average of $2,009.37.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. As a group, sell-side analysts predict 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. Stockholders of record on Friday, May 30th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's payout ratio is currently 4.47%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FCNCA. The Goldman Sachs Group dropped their price objective on 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. Cowen initiated coverage on shares of First Citizens BancShares in a report on Wednesday. They issued a "buy" rating for the company. Keefe, Bruyette & Woods raised 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 note on Monday, January 27th. Truist Financial upped their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Finally, TD Cowen initiated coverage on shares of First Citizens BancShares in a research note on Thursday. They issued a "buy" rating and a $2,400.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of "Moderate Buy" and an average target price of $2,336.58.

Insider Transactions at First Citizens BancShares

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