Ontario Teachers Pension Plan Board Takes $397,000 Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Ontario Teachers Pension Plan Board bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 188 shares of the bank's stock, valued at approximately $397,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Financial Life Planners bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $33,000. Hemington Wealth Management raised its position in shares of First Citizens BancShares by 60.0% during 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 during the last quarter. Duncker Streett & Co. Inc. bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $36,000. Mather Group LLC. raised 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 valued at $38,000 after buying an additional 5 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $38,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction dated 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 completion of the purchase, the chief financial officer now owns 1,141 shares of the company's stock, valued at $2,146,369.33. This represents a 1.51 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 13.19% of the stock is owned by insiders.

First Citizens BancShares Trading Up 3.8 %

NASDAQ:FCNCA traded up $65.42 on Wednesday, hitting $1,799.95. The stock had a trading volume of 31,417 shares, compared to its average volume of 89,030. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a market cap of $24.44 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 0.94 and a beta of 0.66. The company has a fifty day moving average price of $1,838.68 and a two-hundred day moving average price of $2,028.63. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93.

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 the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FCNCA shares. JPMorgan Chase & Co. lifted their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a report on Tuesday, March 11th. The Goldman Sachs Group cut their target price on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Barclays raised their target price on shares of 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, First Citizens BancShares has a consensus rating of "Moderate Buy" and an average target price of $2,346.09.

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.