Marshall Wace LLP Acquires 328 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Marshall Wace LLP lifted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 69.5% during the fourth quarter, according to the company in its most recent filing with the 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of FCNCA. Gamco Investors INC. ET AL grew its stake in First Citizens BancShares by 3.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock worth $328,000 after buying an additional 5 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of First Citizens BancShares by 6.3% during the fourth quarter. Gabelli Funds LLC now owns 4,176 shares of the bank's stock valued at $8,824,000 after acquiring an additional 248 shares during the period. Jump Financial LLC bought a new position in shares of First Citizens BancShares during the fourth quarter worth about $376,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of First Citizens BancShares in the 4th quarter worth about $397,000. Finally, Guggenheim Capital LLC lifted its position in First Citizens BancShares by 37.5% in the 4th quarter. Guggenheim Capital LLC now owns 176 shares of the bank's stock valued at $372,000 after purchasing an additional 48 shares during the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Trading Up 2.8 %

FCNCA traded up $49.85 during trading on Friday, reaching $1,831.32. The company had a trading volume of 83,400 shares, compared to its average volume of 88,773. The firm's 50-day simple moving average is $1,788.84 and its 200 day simple moving average is $2,016.45. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $24.86 billion, a price-to-earnings ratio of 9.67, a PEG 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.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. Equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a $1.95 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.43%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Insider Activity

In related news, CFO Craig L. Nix purchased 17 shares of the company's stock in a transaction dated Friday, March 7th. The shares were acquired 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. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FCNCA. 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. Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target 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. StockNews.com cut shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Finally, Piper Sandler upgraded 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, First Citizens BancShares has an average rating of "Moderate Buy" and a consensus target price of $2,330.82.

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.