Farther Finance Advisors LLC Raises Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Farther Finance Advisors LLC raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 360.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 212 shares of the bank's stock after buying an additional 166 shares during the period. Farther Finance Advisors LLC's holdings in First Citizens BancShares were worth $448,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. M&T Bank Corp increased its stake in shares of First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank's stock worth $1,117,000 after purchasing an additional 5 shares in the last quarter. Mather Group LLC. grew 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 valued at $38,000 after acquiring an additional 5 shares in the last quarter. Private Advisor Group LLC grew its stake in First Citizens BancShares by 3.0% during the fourth 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 grew its stake in First Citizens BancShares by 1.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock valued at $904,000 after acquiring an additional 5 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in First Citizens BancShares by 4.9% during the third quarter. Metis Global Partners LLC now owns 129 shares of the bank's stock valued at $237,000 after acquiring an additional 6 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

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First Citizens BancShares Stock Performance

FCNCA stock traded down $38.97 during trading on Thursday, reaching $1,842.96. The company had a trading volume of 142,719 shares, compared to its average volume of 74,666. The firm has a 50-day simple moving average of $2,061.95 and a 200-day simple moving average of $2,057.59. The company has a market cap of $25.02 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a twelve month low of $1,517.99 and a twelve month high of $2,412.93.

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

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 0.42%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares's payout ratio is 4.12%.

Insider Buying and Selling at First Citizens BancShares

In other news, CFO Craig L. Nix bought 17 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FCNCA shares. JPMorgan Chase & Co. raised their target price on shares of 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. Truist Financial raised their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. UBS Group initiated coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised 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 report on Monday, January 27th. Six 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, First Citizens BancShares presently has an average rating of "Moderate Buy" and an average price target of $2,288.08.

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.