First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 35.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 392,097 shares of the bank's stock after purchasing an additional 103,137 shares during the period. JPMorgan Chase & Co. owned approximately 2.80% of First Citizens BancShares worth $828,510,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in First Citizens BancShares in the fourth quarter valued at $147,341,000. AMF Tjanstepension AB bought a new stake in shares of First Citizens BancShares during the 4th quarter valued at about $99,818,000. FMR LLC increased its position in shares of First Citizens BancShares by 11.6% during the third quarter. FMR LLC now owns 323,532 shares of the bank's stock valued at $595,607,000 after buying an additional 33,713 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in First Citizens BancShares by 128.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank's stock worth $115,859,000 after buying an additional 30,828 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in First Citizens BancShares by 337.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank's stock worth $48,095,000 after buying an additional 20,149 shares during the period. Institutional investors own 78.01% of the company's stock.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the firm's stock in a transaction on Friday, March 7th. The stock was bought at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, the chief financial officer now directly 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 can be accessed through this hyperlink. 13.19% of the stock is currently owned by insiders.

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Analyst Ratings Changes

FCNCA has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price objective on the stock. JPMorgan Chase & Co. increased 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 research note on Tuesday, January 7th. Truist Financial raised their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Citigroup lowered shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group decreased their price target on shares of 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. Six research 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 a consensus rating of "Moderate Buy" and a consensus price target of $2,288.08.

First Citizens BancShares Stock Performance

Shares of FCNCA traded up $10.80 during trading hours on Wednesday, hitting $1,834.27. The stock had a trading volume of 17,892 shares, compared to its average volume of 86,018. First Citizens BancShares, Inc. has a fifty-two week low of $1,518.00 and a fifty-two 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 firm has a 50-day moving average price of $2,010.73 and a 200 day moving average price of $2,055.68. The firm has a market capitalization of $24.90 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (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%. As a group, 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 declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.43%. First Citizens BancShares's dividend payout ratio is presently 4.12%.

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.