Integrated Quantitative Investments LLC Takes $444,000 Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Integrated Quantitative Investments LLC acquired a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 210 shares of the bank’s stock, valued at approximately $444,000.

Several other institutional investors also recently bought and sold shares of FCNCA. Benjamin Edwards Inc. increased its position in First Citizens BancShares by 49.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 362 shares of the bank’s stock valued at $667,000 after purchasing an additional 119 shares during the period. Centiva Capital LP boosted its stake in shares of First Citizens BancShares by 8.8% during the third quarter. Centiva Capital LP now owns 517 shares of the bank’s stock valued at $952,000 after purchasing an additional 42 shares in the last quarter. Janus Henderson Group PLC increased its holdings in First Citizens BancShares by 37.1% during the third quarter. Janus Henderson Group PLC now owns 739 shares of the bank’s stock valued at $1,359,000 after buying an additional 200 shares during the period. Royal London Asset Management Ltd. raised its stake in First Citizens BancShares by 3.8% in the third quarter. Royal London Asset Management Ltd. now owns 8,870 shares of the bank’s stock worth $16,329,000 after buying an additional 328 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in First Citizens BancShares by 69.5% during the third quarter. Quantinno Capital Management LP now owns 317 shares of the bank’s stock worth $584,000 after buying an additional 130 shares during the period. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Craig L. Nix acquired 17 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

FCNCA has been the subject of several recent research reports. 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 for the company in a research report on Tuesday, March 18th. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Truist Financial increased their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Barclays lifted their price objective on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Finally, UBS Group began 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 target price for the company. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,288.08.

First Citizens BancShares Trading Down 3.7 %

NASDAQ:FCNCA opened at $1,571.21 on Friday. The company has a market capitalization of $21.33 billion, a P/E ratio of 8.29, a PEG ratio of 0.94 and a beta of 0.66. 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, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The firm has a fifty day simple moving average of $1,978.80 and a 200-day simple moving average of $2,049.30.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping 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%. On average, equities research 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. Investors of record on Friday, February 28th were issued a $1.95 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.50%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

First Citizens BancShares 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.