First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Fmr LLC

Fmr LLC boosted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 10.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 357,629 shares of the bank’s stock after purchasing an additional 34,097 shares during the quarter. Fmr LLC owned approximately 2.56% of First Citizens BancShares worth $755,677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Financial Life Planners purchased a new stake in shares of First Citizens BancShares during the 4th quarter valued at $33,000. Hemington Wealth Management grew its position in First Citizens BancShares by 60.0% during 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. Duncker Streett & Co. Inc. acquired a new stake in First Citizens BancShares during the fourth quarter worth about $36,000. 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. Finally, Asset Planning Inc purchased a new position in shares of First Citizens BancShares in the 4th quarter worth about $38,000. 78.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Craig L. Nix purchased 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, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $1,606.17 on Tuesday. The firm has a fifty day moving average of $1,967.27 and a two-hundred day moving average of $2,048.95. The firm has a market cap of $21.81 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year 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.

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 the consensus estimate 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, research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FCNCA shares. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. UBS Group started coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. Barclays boosted their price target on 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, 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and a consensus price target of $2,288.08.

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.