Kirkoswald Asset Management LLC Purchases Shares of 10,800 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Kirkoswald Asset Management LLC acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,800 shares of the bank’s stock, valued at approximately $22,821,000. First Citizens BancShares comprises about 26.4% of Kirkoswald Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. Kirkoswald Asset Management LLC owned about 0.08% of First Citizens BancShares as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&T Bank Corp grew its stake in shares of First Citizens BancShares by 0.8% during the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after buying an additional 5 shares during the period. Mather Group LLC. increased 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 acquiring an additional 5 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of First Citizens BancShares by 3.0% in the 4th 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 raised its holdings in shares of First Citizens BancShares by 1.2% in the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $904,000 after purchasing an additional 5 shares during the period. Finally, Hemington Wealth Management lifted its stake 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 purchasing an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were 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 directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays increased 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. JPMorgan Chase & Co. increased their price objective on shares of 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. Keefe, Bruyette & Woods increased their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Piper Sandler raised shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, March 11th. 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,288.08.

First Citizens BancShares Stock Up 0.4 %

NASDAQ FCNCA opened at $1,851.20 on Friday. 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 company’s 50 day simple moving average is $2,052.67 and its 200 day simple moving average is $2,054.85. 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 market capitalization of $25.13 billion, a P/E ratio of 9.77, a PEG ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA) last released its 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 net margin of 18.55% and a return on equity of 13.22%. Equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

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

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.