Marshall Wace LLP Increases Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Marshall Wace LLP raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 69.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 800 shares of the bank's stock after buying an additional 328 shares during the quarter. Marshall Wace LLP's holdings in First Citizens BancShares were worth $1,690,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FCNCA. Financial Life Planners acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth about $33,000. Hemington Wealth Management lifted its position in 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 acquiring an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new stake in First Citizens BancShares in the fourth quarter valued at $36,000. Mather Group LLC. lifted its position 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 acquiring an additional 5 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in First Citizens BancShares in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays reduced their target price 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 report on Friday. The Goldman Sachs Group cut 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 report on Tuesday, March 18th. Truist Financial increased their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. Finally, StockNews.com lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday. One research 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 data from MarketBeat.com, First Citizens BancShares currently has an average rating of "Moderate Buy" and an average price target of $2,330.82.

Insider Buying and Selling at First Citizens BancShares

In other 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, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now owns 1,141 shares of the company's stock, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,772.21 on Tuesday. The company has a market capitalization of $24.06 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. 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 business has a 50-day moving average of $1,808.82 and a 200-day moving average of $2,023.49.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. The firm 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%. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 0.44%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's payout ratio is 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.

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