Mackenzie Financial Corp Purchases 903 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mackenzie Financial Corp lifted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 89.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,914 shares of the bank's stock after purchasing an additional 903 shares during the quarter. Mackenzie Financial Corp's holdings in First Citizens BancShares were worth $2,716,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in First Citizens BancShares by 100.0% in the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank's stock valued at $27,000 after purchasing an additional 10 shares during the period. Lindbrook Capital LLC raised its stake in First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank's stock valued at $32,000 after acquiring an additional 8 shares during the last quarter. Federated Hermes Inc. lifted its position in First Citizens BancShares by 60.0% during the 3rd quarter. Federated Hermes Inc. now owns 56 shares of the bank's stock worth $77,000 after acquiring an additional 21 shares during the period. UMB Bank n.a. grew its stake in shares of First Citizens BancShares by 1,040.0% in the 3rd quarter. UMB Bank n.a. now owns 57 shares of the bank's stock valued at $79,000 after purchasing an additional 52 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $95,000. Hedge funds and other institutional investors own 61.18% of the company's stock.

First Citizens BancShares Trading Down 0.0 %

Shares of NASDAQ:FCNCA traded down $0.03 during trading on Tuesday, reaching $1,622.72. The stock had a trading volume of 76,010 shares, compared to its average volume of 80,639. First Citizens BancShares, Inc. has a fifty-two week low of $945.32 and a fifty-two week high of $1,652.04. The business has a fifty day moving average price of $1,566.98 and a 200-day moving average price of $1,472.16. The stock has a market cap of $23.56 billion, a P/E ratio of 2.07 and a beta of 0.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. As a group, analysts anticipate that First Citizens BancShares, Inc. will post 177.19 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Wednesday, February 28th. First Citizens BancShares's payout ratio is currently 0.84%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They issued a "buy" rating and a $1,950.00 target price on the stock. StockNews.com downgraded First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Wednesday, April 3rd. UBS Group lifted their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a "buy" rating in a research note on Tuesday, January 30th. DA Davidson reaffirmed a "neutral" rating and set a $1,650.00 price objective (up previously from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. Finally, Barclays assumed coverage on First Citizens BancShares in a report on Thursday, April 11th. They issued an "equal weight" rating and a $1,850.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $1,768.63.

Insider Activity at First Citizens BancShares

In other news, major shareholder Olivia Britton Holding bought 466 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the acquisition, the insider now owns 121,694 shares of the company's stock, valued at $160,027,610. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 466 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the transaction, the insider now owns 121,694 shares in the company, valued at $160,027,610. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hope Holding Bryant acquired 300 shares of the business's stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the completion of the transaction, the insider now directly owns 1,978 shares of the company's stock, valued at $2,601,070. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,388 shares of company stock worth $1,825,220. 12.85% of the stock is owned by insiders.

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.