International Assets Investment Management LLC Takes $26.18 Million Position 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) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its holdings in First Citizens BancShares by 145.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank's stock valued at $1,995,000 after purchasing an additional 833 shares during the last quarter. Nordea Investment Management AB grew its holdings in First Citizens BancShares by 3,091.6% during the fourth quarter. Nordea Investment Management AB now owns 23,905 shares of the bank's stock valued at $34,203,000 after purchasing an additional 23,156 shares during the last quarter. Reinhart Partners LLC. grew its holdings in First Citizens BancShares by 11.7% during the fourth quarter. Reinhart Partners LLC. now owns 56,803 shares of the bank's stock valued at $80,602,000 after purchasing an additional 5,952 shares during the last quarter. Legal & General Group Plc grew its holdings in First Citizens BancShares by 49.1% during the third quarter. Legal & General Group Plc now owns 47,287 shares of the bank's stock valued at $65,261,000 after purchasing an additional 15,579 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in First Citizens BancShares by 90.9% during the third quarter. Hsbc Holdings PLC now owns 3,132 shares of the bank's stock valued at $4,326,000 after purchasing an additional 1,491 shares during the last quarter. Institutional investors and hedge funds own 61.18% of the company's stock.

Analyst Ratings Changes

FCNCA has been the subject of several research reports. Piper Sandler cut First Citizens BancShares from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $1,850.00 to $1,950.00 in a research report on Friday, April 26th. UBS Group increased their price objective on 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 and issued a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Wedbush reissued an "outperform" rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a research report on Monday, January 29th. Finally, The Goldman Sachs Group assumed coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They set a "buy" rating and a $1,950.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,829.90.

Insider Activity

In other First Citizens BancShares news, major shareholder Olivia Britton Holding acquired 466 shares of the business's stock in a transaction dated Tuesday, February 20th. The shares were 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 directly owns 121,694 shares of the company's stock, valued at approximately $160,027,610. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Olivia Britton Holding bought 466 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average price 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hope Holding Bryant bought 300 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the transaction, the insider now owns 1,978 shares in the company, valued at approximately $2,601,070. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,388 shares of company stock worth $1,825,220 and have sold 2,600 shares worth $4,458,964. 13.40% of the stock is currently owned by company insiders.

First Citizens BancShares Trading Down 0.2 %

FCNCA traded down $3.50 during midday trading on Friday, reaching $1,710.00. 62,387 shares of the company were exchanged, compared to its average volume of 82,503. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. First Citizens BancShares, Inc. has a one year low of $945.32 and a one year high of $1,810.03. The stock has a market capitalization of $24.83 billion, a P/E ratio of 9.49 and a beta of 0.86. The stock's 50-day simple moving average is $1,600.68 and its 200 day simple moving average is $1,492.35.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Thursday, May 30th. First Citizens BancShares's dividend payout ratio (DPR) is presently 3.64%.

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.