Integrated Quantitative Investments LLC Makes New $444,000 Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Integrated Quantitative Investments LLC bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 210 shares of the bank's stock, valued at approximately $444,000.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $298,426,000. JPMorgan Chase & Co. lifted its stake in First Citizens BancShares by 35.7% during the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock valued at $828,510,000 after purchasing an additional 103,137 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of First Citizens BancShares in the 4th quarter worth $147,341,000. AMF Tjanstepension AB acquired a new stake in First Citizens BancShares during the 4th quarter worth about $99,818,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of First Citizens BancShares by 128.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank's stock valued at $115,859,000 after acquiring an additional 30,828 shares during the period. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Trading Down 6.8 %

Shares of First Citizens BancShares stock traded down $117.66 on Thursday, reaching $1,618.67. 45,532 shares of the company's stock were exchanged, compared to its average volume of 86,136. 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 debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $21.98 billion, a P/E ratio of 8.56, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The firm's 50-day moving average is $1,923.15 and its two-hundred day moving average is $2,039.07.

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 return on equity of 13.22% and a net margin of 18.55%. Sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

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 0.48%. First Citizens BancShares's dividend payout ratio is currently 4.12%.

Insider Buying and Selling

In other First Citizens BancShares news, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the acquisition, the chief financial officer now owns 1,141 shares in the company, 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 the SEC website. 13.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on FCNCA shares. Keefe, Bruyette & Woods boosted their target price on 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. UBS Group initiated coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 price objective on the stock. 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 report on Monday, January 27th. Truist Financial lifted their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $2,288.08.

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.