First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 68.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,044 shares of the bank's stock after purchasing an additional 425 shares during the quarter. Intech Investment Management LLC's holdings in First Citizens BancShares were worth $2,206,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its holdings in shares of First Citizens BancShares by 46.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,962 shares of the bank's stock worth $75,997,000 after purchasing an additional 11,408 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in First Citizens BancShares by 45.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 235 shares of the bank's stock valued at $496,000 after buying an additional 73 shares in the last quarter. Natixis Advisors LLC increased its stake in First Citizens BancShares by 6.7% in the 4th quarter. Natixis Advisors LLC now owns 23,855 shares of the bank's stock worth $50,406,000 after acquiring an additional 1,489 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in shares of First Citizens BancShares by 23.7% during the 4th quarter. Picton Mahoney Asset Management now owns 6,419 shares of the bank's stock worth $13,564,000 after acquiring an additional 1,230 shares in the last quarter. Finally, Midwest Professional Planners LTD. boosted its position in shares of First Citizens BancShares by 18.1% during the 4th quarter. Midwest Professional Planners LTD. now owns 834 shares of the bank's stock valued at $1,762,000 after acquiring an additional 128 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of the stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now owns 1,141 shares of the company's stock, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.40% of the company's stock.

First Citizens BancShares Trading Up 0.5 %

Shares of NASDAQ:FCNCA traded up $9.06 during trading on Tuesday, reaching $1,892.29. 150,691 shares of the company were exchanged, compared to its average volume of 84,097. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $25.69 billion, a PE ratio of 9.99, a P/E/G ratio of 0.94 and a beta of 0.81. The business's fifty day simple moving average is $2,048.63 and its 200-day simple moving average is $2,055.26. First Citizens BancShares, Inc. has a 12-month low of $1,518.00 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.95 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.41%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target for the company in a research report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective on the stock. UBS Group initiated 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 for the company. Finally, Keefe, Bruyette & Woods upped their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock 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.