Federated Hermes Inc. Purchases 220 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Federated Hermes Inc. boosted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 1,375.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236 shares of the bank's stock after buying an additional 220 shares during the period. Federated Hermes Inc.'s holdings in First Citizens BancShares were worth $499,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Life Planners acquired a new stake in First Citizens BancShares in the 4th quarter valued at $33,000. Hemington Wealth Management lifted its holdings in shares of 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 shares of First Citizens BancShares in the 4th quarter valued at $36,000. Mather Group LLC. grew its holdings in shares of 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 during 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 own 78.01% of the company's stock.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the firm's stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.40% of the stock is currently owned by corporate insiders.

First Citizens BancShares Trading Up 3.0 %

Shares of FCNCA stock traded up $49.80 during trading hours on Tuesday, reaching $1,734.53. The company had a trading volume of 85,147 shares, compared to its average volume of 89,254. 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, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The company has a 50 day moving average of $1,838.68 and a 200 day moving average of $2,028.63. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results 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%. On average, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of 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. StockNews.com upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. Keefe, Bruyette & Woods raised their price objective 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. Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, March 11th. Finally, Truist Financial raised their price target 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. Based on data from MarketBeat, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and an average target price of $2,346.09.

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.