Titan Global Capital Management USA LLC Acquires 322 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Titan Global Capital Management USA LLC grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,597 shares of the bank's stock after purchasing an additional 322 shares during the quarter. First Citizens BancShares comprises about 0.8% of Titan Global Capital Management USA LLC's investment portfolio, making the stock its 24th biggest position. Titan Global Capital Management USA LLC's holdings in First Citizens BancShares were worth $5,487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FCNCA. Janus Henderson Group PLC boosted its holdings in shares of First Citizens BancShares by 37.1% during the 3rd quarter. Janus Henderson Group PLC now owns 739 shares of the bank's stock worth $1,359,000 after buying an additional 200 shares during the period. Quantinno Capital Management LP lifted its position in First Citizens BancShares by 69.5% during the 3rd quarter. Quantinno Capital Management LP now owns 317 shares of the bank's stock worth $584,000 after acquiring an additional 130 shares during the last quarter. Stifel Financial Corp boosted its holdings in First Citizens BancShares by 3.9% during the third quarter. Stifel Financial Corp now owns 4,171 shares of the bank's stock valued at $7,681,000 after acquiring an additional 158 shares during the period. National Bank of Canada FI grew its position in shares of First Citizens BancShares by 7,015.1% in the third quarter. National Bank of Canada FI now owns 5,194 shares of the bank's stock valued at $9,562,000 after purchasing an additional 5,121 shares during the last quarter. Finally, MML Investors Services LLC grew its position in shares of First Citizens BancShares by 4.0% in the third quarter. MML Investors Services LLC now owns 1,297 shares of the bank's stock valued at $2,388,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Price Performance

NASDAQ FCNCA traded up $0.67 during trading hours on Wednesday, reaching $1,698.59. 34,317 shares of the company's stock were exchanged, compared to its average volume of 88,798. The firm has a fifty day moving average of $1,883.02 and a 200-day moving average of $2,033.87. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The stock has a market cap of $23.06 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings data 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%. On average, equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of research analyst reports. Citigroup lowered First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. JPMorgan Chase & Co. boosted their price objective 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. Barclays increased their target price 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 note on Monday, January 27th. Finally, Truist Financial upped their price target on 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $2,346.09.

Insider Buying and Selling

In related news, CFO Craig L. Nix bought 17 shares of the business's stock in a transaction on Friday, March 7th. The shares were purchased at an average price 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 of the company's stock, valued at $2,146,369.33. This represents a 1.51 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

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.