Bank of Montreal Can Has $80.92 Million Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Bank of Montreal Can boosted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 72.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,294 shares of the bank's stock after acquiring an additional 16,110 shares during the period. Bank of Montreal Can owned 0.27% of First Citizens BancShares worth $80,916,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FCNCA. Sei Investments Co. raised its position in First Citizens BancShares by 69.6% in the fourth quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock valued at $6,404,000 after purchasing an additional 1,244 shares during the period. JPMorgan Chase & Co. lifted its position in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after buying an additional 18,501 shares during the last quarter. Check Capital Management Inc. CA boosted its stake in First Citizens BancShares by 20.0% during the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank's stock worth $70,995,000 after buying an additional 5,605 shares during the period. Asset Management One Co. Ltd. increased its position in shares of First Citizens BancShares by 4.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank's stock valued at $7,811,000 after acquiring an additional 157 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of First Citizens BancShares in the 4th quarter valued at approximately $39,739,000. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA traded up $19.15 during trading on Monday, hitting $1,676.64. 13,209 shares of the company traded hands, compared to its average volume of 88,648. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year 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 business's fifty day moving average is $1,903.26 and its 200-day moving average is $2,037.43. The stock has a market capitalization of $22.76 billion, a price-to-earnings ratio of 8.85, 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 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%. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.95 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.47%. First Citizens BancShares's payout ratio is currently 4.12%.

Insiders Place Their Bets

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the company's stock in a transaction dated Friday, March 7th. The shares were bought at an average price 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 $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 can be accessed through this link. Corporate insiders own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of recent research reports. StockNews.com upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. Truist Financial increased their target price 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. UBS Group assumed coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 target price on the stock. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective for the company in a research report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $2,288.08.

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.