Heritage Trust Co Takes $397,000 Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Heritage Trust Co acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 188 shares of the bank's stock, valued at approximately $397,000.

Other hedge funds have also recently bought and sold shares of the company. Sei Investments Co. lifted its position in shares of First Citizens BancShares by 69.6% during the fourth quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock worth $6,404,000 after purchasing an additional 1,244 shares during the last quarter. JPMorgan Chase & Co. raised its stake in First Citizens BancShares by 6.8% during 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 in the last quarter. Check Capital Management Inc. CA lifted its holdings in First Citizens BancShares by 20.0% during the 4th 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 last quarter. Asset Management One Co. Ltd. grew its position in shares of First Citizens BancShares by 4.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank's stock worth $7,811,000 after acquiring an additional 157 shares in the last quarter. Finally, Raymond James Financial Inc. bought 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.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FCNCA shares. The Goldman Sachs Group reduced their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. JPMorgan Chase & Co. raised 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 report on Tuesday, January 7th. Piper Sandler raised shares of 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. Keefe, Bruyette & Woods raised their target price on shares of 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. Finally, Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares presently has a consensus rating of "Moderate Buy" and an average target price of $2,346.09.

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First Citizens BancShares Stock Down 0.4 %

NASDAQ FCNCA traded down $6.16 during trading hours on Wednesday, hitting $1,691.76. 68,164 shares of the company traded hands, compared to its average volume of 88,927. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The business's 50-day moving average is $1,883.02 and its 200-day moving average is $2,033.87. The stock has a market capitalization of $22.97 billion, a price-to-earnings ratio of 8.93, a P/E/G ratio of 0.94 and a beta of 0.66.

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, beating 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%. Sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Craig L. Nix purchased 17 shares of the company'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 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.40% of the stock is owned by insiders.

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.