Snowden Capital Advisors LLC Buys 16 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Snowden Capital Advisors LLC increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.1% in the 4th quarter, HoldingsChannel reports. The firm owned 241 shares of the bank’s stock after acquiring an additional 16 shares during the period. Snowden Capital Advisors LLC’s holdings in First Citizens BancShares were worth $509,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Mather Group LLC. grew its stake in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the period. Private Advisor Group LLC grew its stake in First Citizens BancShares by 3.0% during the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock worth $363,000 after purchasing an additional 5 shares during the period. Exencial Wealth Advisors LLC grew its stake in First Citizens BancShares by 1.2% in the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $904,000 after acquiring an additional 5 shares during the period. Gamco Investors INC. ET AL grew its stake in First Citizens BancShares by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank’s stock valued at $328,000 after acquiring an additional 5 shares during the period. Finally, Hemington Wealth Management grew its stake in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $1,918.20 on Wednesday. The business’s fifty day simple moving average is $1,792.01 and its 200 day simple moving average is $2,008.81. The firm has a market capitalization of $25.49 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. 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 current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping analysts’ consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion for 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%. As a group, analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS 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 $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, May 30th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.47%.

Insider Activity

In other news, CEO Frank B. Holding, Jr. purchased 350 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was purchased at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Craig L. Nix purchased 17 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. The trade was a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.40% of the stock is owned by company insiders.

Analyst Ratings Changes

FCNCA has been the subject of a number of research reports. TD Cowen initiated coverage on First Citizens BancShares in a research note on Thursday, May 15th. They issued a “buy” rating and a $2,400.00 price objective for the company. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. Truist Financial raised their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Cowen initiated coverage on First Citizens BancShares in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. Finally, Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,336.58.

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.