Fmr LLC Purchases 34,097 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

FMR LLC increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,629 shares of the bank's stock after acquiring an additional 34,097 shares during the period. FMR LLC owned about 2.56% of First Citizens BancShares worth $755,677,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FCNCA. Barclays upped their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an "equal weight" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. 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 note 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. Finally, Piper Sandler upgraded 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. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $2,288.08.

First Citizens BancShares Stock Up 1.1 %

Shares of NASDAQ:FCNCA traded up $17.85 during trading on Friday, hitting $1,657.49. 95,958 shares of the company's stock traded hands, compared to its average volume of 88,942. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a 50-day moving average price of $1,903.26 and a 200-day moving average price of $2,037.43. 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 market cap of $22.50 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly 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 net margin of 18.55% and a return on equity of 13.22%. As a group, research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Insider Activity

In other First Citizens BancShares 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 acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the transaction, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.40% of the company's stock.

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.