First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Xponance Inc.

Xponance Inc. raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 15.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,119 shares of the bank’s stock after purchasing an additional 152 shares during the period. Xponance Inc.’s holdings in First Citizens BancShares were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Life Planners purchased a new position in First Citizens BancShares in the fourth quarter valued at $33,000. Hemington Wealth Management increased its holdings in shares of First Citizens BancShares by 60.0% in the 4th 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 last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth about $36,000. Mather Group LLC. lifted 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 last quarter. Finally, Asset Planning Inc acquired a new position in First Citizens BancShares in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 0.4 %

Shares of NASDAQ:FCNCA opened at $1,851.20 on Friday. First Citizens BancShares, Inc. has a fifty-two week low of $1,518.00 and a fifty-two week 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. The firm’s 50-day simple moving average is $2,052.67 and its 200-day simple moving average is $2,054.85. The company has a market cap of $25.13 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. lifted their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group decreased their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, UBS Group assumed coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,288.08.

Insider Buying and Selling at First Citizens BancShares

In other news, CFO Craig L. Nix purchased 17 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 13.40% of the stock is owned by corporate insiders.

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.