First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by Korea Investment CORP

Korea Investment CORP raised its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 127.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,672 shares of the bank's stock after buying an additional 2,621 shares during the quarter. Korea Investment CORP's holdings in First Citizens BancShares were worth $9,872,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FCNCA. First American Trust FSB bought a new position in First Citizens BancShares in the 4th quarter worth approximately $226,000. LPL Financial LLC raised its stake in shares of First Citizens BancShares by 53.0% during the fourth quarter. LPL Financial LLC now owns 3,633 shares of the bank's stock worth $7,676,000 after buying an additional 1,258 shares during the last quarter. Kirkoswald Asset Management LLC acquired a new position in First Citizens BancShares in the fourth quarter valued at approximately $22,821,000. KLP Kapitalforvaltning AS bought a new position in First Citizens BancShares in the fourth quarter valued at approximately $15,002,000. Finally, Sei Investments Co. grew its holdings in First Citizens BancShares by 69.6% during the 4th quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock worth $6,404,000 after acquiring an additional 1,244 shares during the period. 78.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target 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. Citigroup downgraded shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Truist Financial increased their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a "buy" rating and a $2,600.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $2,288.08.

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Insiders Place Their Bets

In other news, CFO Craig L. Nix purchased 17 shares of the company's stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.19% of the stock is currently owned by corporate insiders.

First Citizens BancShares Trading Down 6.6 %

Shares of NASDAQ:FCNCA traded down $108.38 during trading on Friday, hitting $1,523.68. The company had a trading volume of 98,887 shares, compared to its average volume of 86,731. The stock has a market cap of $20.69 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company has a fifty day simple moving average of $1,991.87 and a two-hundred day simple moving average of $2,051.38. First Citizens BancShares, Inc. has a one year low of $1,470.15 and a one year high of $2,412.93.

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, equities 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. Shareholders of record on Friday, February 28th were paid a $1.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.51%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

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.