Raymond James Financial Inc. Takes $39.74 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Raymond James Financial Inc. purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,807 shares of the bank's stock, valued at approximately $39,739,000. Raymond James Financial Inc. owned 0.13% of First Citizens BancShares as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Mather Group LLC. increased its stake in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after purchasing an additional 5 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of First Citizens BancShares by 3.0% during the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock valued at $363,000 after acquiring an additional 5 shares in the last quarter. Exencial Wealth Advisors LLC raised its holdings in shares of First Citizens BancShares by 1.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock worth $904,000 after acquiring an additional 5 shares in the last quarter. Hemington Wealth Management grew its stake in First Citizens BancShares by 60.0% in the fourth 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. Finally, Sanctuary Advisors LLC grew its stake in shares of First Citizens BancShares by 0.3% in the 4th quarter. Sanctuary Advisors LLC now owns 2,309 shares of the bank's stock valued at $5,122,000 after buying an additional 6 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were bought 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. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 13.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FCNCA. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a report on Tuesday, March 11th. JPMorgan Chase & Co. increased their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Truist Financial increased their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, First Citizens BancShares has an average rating of "Moderate Buy" and a consensus target price of $2,346.09.

First Citizens BancShares Stock Performance

Shares of FCNCA traded up $24.86 during mid-day trading on Friday, hitting $1,716.62. 59,744 shares of the company's stock were exchanged, compared to its average volume of 89,116. 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 has a market cap of $23.31 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The stock's 50-day simple moving average is $1,863.73 and its 200-day simple moving average is $2,030.66. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share 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%. On average, equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

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.