First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,461 shares of the bank's stock after buying an additional 833 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of First Citizens BancShares worth $15,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in First Citizens BancShares during the 4th quarter valued at approximately $77,000. Virtus ETF Advisers LLC raised its position in shares of First Citizens BancShares by 42.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 599 shares of the bank's stock valued at $1,266,000 after buying an additional 179 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in First Citizens BancShares during the fourth quarter valued at $298,000. Stifel Financial Corp lifted its stake in First Citizens BancShares by 4.8% in the 4th quarter. Stifel Financial Corp now owns 4,370 shares of the bank's stock worth $9,237,000 after purchasing an additional 199 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of First Citizens BancShares by 109.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 65 shares of the bank's stock worth $137,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 78.01% of the company's stock.

Insider Transactions at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of the stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $1,881.13 per share, with a total value 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. This represents a 1.51 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank B. Holding, Jr. bought 350 shares of First Citizens BancShares stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the acquisition, the chief executive officer now owns 2,758 shares of the company's stock, valued at $4,440,380. This represents a 14.53 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 13.40% of the company's stock.

First Citizens BancShares Trading Down 0.1 %

Shares of FCNCA traded down $2.25 during trading on Friday, reaching $1,827.97. 17,381 shares of the company traded hands, compared to its average volume of 89,220. The stock has a 50-day simple moving average of $1,771.80 and a 200-day simple moving average of $2,009.82. The stock has a market cap of $24.82 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

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

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com cut shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Barclays dropped their price objective on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Keefe, Bruyette & Woods boosted their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group reduced their price target on 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, First Citizens BancShares currently has an average rating of "Moderate Buy" and an average target price of $2,330.82.

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.