Kirkoswald Asset Management LLC Acquires Shares of 10,800 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Kirkoswald Asset Management LLC bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,800 shares of the bank's stock, valued at approximately $22,821,000. First Citizens BancShares accounts for 26.4% of Kirkoswald Asset Management LLC's investment portfolio, making the stock its 2nd largest holding. Kirkoswald Asset Management LLC owned about 0.08% of First Citizens BancShares at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Life Planners acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at approximately $33,000. Hemington Wealth Management lifted its stake in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after buying an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $36,000. Mather Group LLC. increased its position in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after acquiring an additional 5 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth $38,000. 78.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 cost of $1,881.13 per share, with a total value 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.40% of the stock is currently owned by insiders.

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Analysts Set New Price Targets

FCNCA has been the subject of a number of research analyst reports. Truist Financial upped 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. Barclays increased their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an "equal weight" rating in a report on Monday, January 27th. UBS Group started coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 target price on the stock. The Goldman Sachs Group reduced their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,288.08.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA traded down $14.54 during mid-day trading on Wednesday, hitting $1,877.75. The stock had a trading volume of 78,884 shares, compared to its average volume of 84,706. The company's 50 day simple moving average is $2,038.18 and its 200 day simple moving average is $2,053.98. The stock has a market cap of $25.49 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a twelve month low of $1,518.00 and a twelve month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share 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%. On average, equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares's dividend payout ratio is presently 4.12%.

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.