Jump Financial LLC Buys New Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Jump Financial LLC acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 178 shares of the bank's stock, valued at approximately $376,000.

A number of other hedge funds also recently made changes to their positions in the business. Barclays PLC increased its position in shares of First Citizens BancShares by 19.2% during the 3rd quarter. Barclays PLC now owns 7,195 shares of the bank's stock worth $13,246,000 after purchasing an additional 1,158 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of First Citizens BancShares by 3.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 735 shares of the bank's stock worth $1,353,000 after purchasing an additional 24 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth about $5,400,000. Tidal Investments LLC increased its position in shares of First Citizens BancShares by 95.6% during the 3rd quarter. Tidal Investments LLC now owns 1,158 shares of the bank's stock worth $2,132,000 after purchasing an additional 566 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth about $203,000. Institutional investors and hedge funds own 78.01% of the company's stock.

Insiders Place Their Bets

In other news, CFO Craig L. Nix bought 17 shares of the stock in a transaction on Friday, March 7th. The stock was purchased 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 approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 13.40% of the company's stock.

First Citizens BancShares Trading Up 1.2 %

Shares of FCNCA traded up $20.84 during trading hours on Tuesday, reaching $1,793.05. The stock had a trading volume of 48,570 shares, compared to its average volume of 88,979. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The firm has a 50-day moving average of $1,808.82 and a 200 day moving average of $2,023.49. The company has a market cap of $24.34 billion, a P/E ratio of 9.47, a P/E/G ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The business had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. On average, sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FCNCA shares. Truist Financial upped their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a report on Tuesday, March 11th. Keefe, Bruyette & Woods upped their price objective on 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. 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 report on Tuesday, March 18th. Finally, Barclays reduced their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $2,330.82.

About First Citizens BancShares

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.