Natixis Invests $309,000 in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Natixis purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 146 shares of the bank's stock, valued at approximately $309,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. lifted its position in shares of First Citizens BancShares by 38.5% during the 4th 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 period. Private Advisor Group LLC grew its stake in shares of First Citizens BancShares by 3.0% in the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock valued at $363,000 after buying an additional 5 shares during the period. Exencial Wealth Advisors LLC increased its position in First Citizens BancShares by 1.2% in the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock valued at $904,000 after buying an additional 5 shares in the last quarter. Gamco Investors INC. ET AL raised 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 period. Finally, Hemington Wealth Management boosted its holdings in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after acquiring an additional 6 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com cut First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday. Barclays dropped their price target on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Truist Financial increased their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. 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 note on Tuesday, March 11th. Finally, 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 on the stock in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $2,330.82.

Insider Activity

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the company's stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 13.40% of the company's stock.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA traded down $13.91 on Wednesday, reaching $1,779.14. 77,469 shares of the company's stock were exchanged, compared to its average volume of 88,846. The firm has a market cap of $24.16 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 0.94 and a beta of 0.66. 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 stock has a fifty day simple moving average of $1,796.94 and a 200-day simple moving average of $2,020.21. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share 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 during the quarter, compared to analyst estimates of $2.22 billion. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's dividend payout ratio is presently 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.