International Assets Investment Management LLC Makes New $26.18 Million Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

International Assets Investment Management LLC acquired a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,447 shares of the bank's stock, valued at approximately $26,176,000. International Assets Investment Management LLC owned about 0.13% of First Citizens BancShares as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FCNCA. Blue Trust Inc. lifted its holdings in shares of First Citizens BancShares by 100.0% in the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank's stock worth $27,000 after acquiring an additional 10 shares during the last quarter. Castleview Partners LLC purchased a new position in shares of First Citizens BancShares in the second quarter worth $31,000. Lindbrook Capital LLC increased its stake in shares of First Citizens BancShares by 53.3% in the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank's stock worth $32,000 after buying an additional 8 shares during the period. Resurgent Financial Advisors LLC purchased a new position in shares of First Citizens BancShares in the fourth quarter worth $35,000. Finally, Fred Alger Management LLC purchased a new position in shares of First Citizens BancShares in the fourth quarter worth $39,000. 61.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FCNCA. StockNews.com downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Wednesday, April 3rd. UBS Group boosted their price objective on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a "buy" rating in a research report on Tuesday, January 30th. DA Davidson reissued a "neutral" rating on shares of First Citizens BancShares in a research report on Monday, January 15th. The Goldman Sachs Group began coverage on shares of First Citizens BancShares in a research report on Thursday, March 21st. They set a "buy" rating and a $1,950.00 price objective on the stock. Finally, Wedbush reissued an "outperform" rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $1,774.83.

Insider Buying and Selling at First Citizens BancShares

In other news, Director Ellen R. Alemany sold 600 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares of the company's stock, valued at approximately $7,549,113.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 466 shares of First Citizens BancShares stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the transaction, the insider now directly owns 121,694 shares of the company's stock, valued at $160,027,610. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ellen R. Alemany sold 600 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the sale, the director now directly owns 4,842 shares of the company's stock, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,388 shares of company stock worth $1,825,220. Company insiders own 12.85% of the company's stock.

First Citizens BancShares Stock Up 0.1 %

First Citizens BancShares stock traded up $1.95 during mid-day trading on Wednesday, reaching $1,607.61. The stock had a trading volume of 65,254 shares, compared to its average volume of 82,514. The company has a market capitalization of $23.35 billion, a price-to-earnings ratio of 2.03 and a beta of 0.89. The company has a 50-day moving average price of $1,553.81 and a two-hundred day moving average price of $1,458.22. First Citizens BancShares, Inc. has a one year low of $945.32 and a one year high of $1,651.73. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $48.49 by ($1.91). The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. On average, analysts expect that First Citizens BancShares, Inc. will post 178.72 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 0.41%. The ex-dividend date was Wednesday, February 28th. First Citizens BancShares's dividend payout ratio is currently 0.84%.

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.