Holderness Investments Co. Grows Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Holderness Investments Co. raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 638 shares of the bank’s stock after purchasing an additional 32 shares during the quarter. Holderness Investments Co.’s holdings in First Citizens BancShares were worth $1,348,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Financial Life Planners purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth $33,000. Hemington Wealth Management grew its holdings in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after buying an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth $36,000. Mather Group LLC. boosted 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 last quarter. Finally, Asset Planning Inc acquired a new position in shares of First Citizens BancShares during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 2.1 %

NASDAQ FCNCA opened at $1,842.96 on Friday. The firm’s 50-day moving average is $2,056.93 and its two-hundred day moving average is $2,056.10. First Citizens BancShares, Inc. has a 12 month low of $1,518.00 and a 12 month high of $2,412.93. 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 market capitalization of $25.02 billion, a P/E ratio of 9.73, a PEG ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.95 per share. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix bought 17 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Barclays boosted their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods boosted their price target on shares of 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, StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,288.08.

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.