First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lifted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 124.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,149 shares of the bank's stock after purchasing an additional 1,746 shares during the period. Schonfeld Strategic Advisors LLC's holdings in First Citizens BancShares were worth $6,654,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Barclays PLC boosted its holdings in First Citizens BancShares by 19.2% in the 3rd quarter. Barclays PLC now owns 7,195 shares of the bank's stock worth $13,246,000 after buying an additional 1,158 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in First Citizens BancShares in the 3rd quarter valued at $5,400,000. Tidal Investments LLC lifted its position in shares of First Citizens BancShares by 95.6% in the third quarter. Tidal Investments LLC now owns 1,158 shares of the bank's stock worth $2,132,000 after buying an additional 566 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of First Citizens BancShares during the 3rd quarter worth approximately $203,000. Finally, JPMorgan Chase & Co. raised its stake in First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after purchasing an additional 18,501 shares in the last quarter. Institutional investors own 78.01% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Barclays reduced their price objective 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 raised their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. StockNews.com lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, First Citizens BancShares has a consensus rating of "Moderate Buy" and an average price target of $2,330.82.

First Citizens BancShares Stock Up 1.8 %

FCNCA traded up $32.07 on Wednesday, hitting $1,810.11. The company had a trading volume of 22,381 shares, compared to its average volume of 88,985. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 0.94 and a beta of 0.64. The stock has a fifty day moving average price of $1,780.06 and a 200-day moving average price of $2,012.91. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The firm had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. Analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 0.43%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares's dividend payout ratio is presently 4.47%.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Frank B. Holding, Jr. acquired 350 shares of the stock in a transaction on Friday, May 2nd. The stock was bought at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the transaction, the chief executive officer now owns 2,758 shares in the company, valued at approximately $4,440,380. This represents a 14.53 % increase in their position. The disclosure for this purchase can be found here. 13.40% of the stock is currently owned by company insiders.

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.