Farringdon Capital Ltd. Buys New Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Farringdon Capital Ltd. purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 238 shares of the bank's stock, valued at approximately $503,000.

Other hedge funds have also recently modified their holdings of the company. Financial Life Planners purchased a new stake in First Citizens BancShares in the fourth quarter worth about $33,000. 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 during the period. Duncker Streett & Co. Inc. bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $36,000. Mather Group LLC. grew its stake in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after purchasing an additional 5 shares during the period. Finally, Asset Planning Inc bought a new position in First Citizens BancShares in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group decreased 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 research note on Tuesday, March 18th. Keefe, Bruyette & Woods boosted their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Barclays upped their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an "equal weight" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Finally, Truist Financial upped their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $2,346.09.

Insiders Place Their Bets

In related news, CFO Craig L. Nix purchased 17 shares of the business'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 acquisition, the chief financial officer now owns 1,141 shares of the company's stock, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.19% of the company's stock.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA traded up $66.94 on Wednesday, reaching $1,801.47. The company's stock had a trading volume of 32,977 shares, compared to its average volume of 89,043. The company has a 50-day simple moving average of $1,838.68 and a 200 day simple moving average of $2,028.63. 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 debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $24.46 billion, a P/E ratio of 9.51, a PEG ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating 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, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal 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.