Commerce Bank Buys 849 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Commerce Bank boosted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,194 shares of the bank's stock after acquiring an additional 849 shares during the period. Commerce Bank owned approximately 0.16% of First Citizens BancShares worth $46,896,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in First Citizens BancShares in the 4th quarter valued at $33,000. Hemington Wealth Management boosted 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. Duncker Streett & Co. Inc. acquired a new stake in shares of First Citizens BancShares in the 4th quarter valued at $36,000. Mather Group LLC. increased 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 worth $38,000 after purchasing an additional 5 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA traded up $55.66 during trading on Wednesday, reaching $1,790.19. 43,272 shares of the company traded hands, compared to its average volume of 89,081. The firm has a market capitalization of $24.31 billion, a PE ratio of 9.45, a PEG ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. 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 company's 50 day moving average is $1,838.68 and its two-hundred day moving average is $2,028.63.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted 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%. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. This trade represents a 1.51 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research report on Tuesday, March 11th. Barclays boosted their target price 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 note on Monday, January 27th. Finally, The Goldman Sachs Group lowered their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, First Citizens BancShares has a consensus rating of "Moderate Buy" and an average target price of $2,346.09.

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.