Picton Mahoney Asset Management Buys 1,230 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Picton Mahoney Asset Management increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,419 shares of the bank's stock after purchasing an additional 1,230 shares during the quarter. Picton Mahoney Asset Management's holdings in First Citizens BancShares were worth $13,564,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of FCNCA. Midwest Professional Planners LTD. boosted its position in First Citizens BancShares by 18.1% during the 4th quarter. Midwest Professional Planners LTD. now owns 834 shares of the bank's stock worth $1,762,000 after acquiring an additional 128 shares during the last quarter. Tredje AP fonden boosted its position in First Citizens BancShares by 444.1% during the 4th quarter. Tredje AP fonden now owns 6,034 shares of the bank's stock worth $12,750,000 after acquiring an additional 4,925 shares during the last quarter. Farther Finance Advisors LLC boosted its position in First Citizens BancShares by 360.9% during the 4th quarter. Farther Finance Advisors LLC now owns 212 shares of the bank's stock worth $448,000 after acquiring an additional 166 shares during the last quarter. Independent Advisor Alliance boosted its position in First Citizens BancShares by 6.2% during the 4th quarter. Independent Advisor Alliance now owns 1,158 shares of the bank's stock worth $2,447,000 after acquiring an additional 68 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First Citizens BancShares by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the bank's stock worth $4,668,000 after acquiring an additional 47 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

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First Citizens BancShares Stock Performance

FCNCA traded up $46.78 during trading hours on Wednesday, reaching $1,881.93. The company's stock had a trading volume of 109,637 shares, compared to its average volume of 83,700. First Citizens BancShares, Inc. has a 52 week low of $1,518.00 and a 52 week high of $2,412.93. The company's 50-day moving average is $2,066.19 and its 200-day moving average is $2,058.83. 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 market cap of $25.55 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81.

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

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.41%. The ex-dividend date was Friday, February 28th. First Citizens BancShares's payout ratio is 4.12%.

Insiders Place Their Bets

In other news, CFO Craig L. Nix acquired 17 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.40% of the company's stock.

Analyst Ratings Changes

FCNCA has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Truist Financial upped their price target on 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. Barclays increased their price objective on 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. Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective for the company in a report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods increased their price objective on 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. Six 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,288.08.

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.