Proficio Capital Partners LLC Buys Shares of 69,730 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Proficio Capital Partners LLC bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 69,730 shares of the bank's stock, valued at approximately $147,341,000. First Citizens BancShares accounts for 1.9% of Proficio Capital Partners LLC's portfolio, making the stock its 4th largest holding. Proficio Capital Partners LLC owned approximately 0.50% of First Citizens BancShares as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FCNCA. Financial Life Planners bought a new position in First Citizens BancShares during the 4th quarter valued at about $33,000. Hemington Wealth Management lifted its stake in shares of First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after purchasing an additional 6 shares during the period. Duncker Streett & Co. Inc. bought a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $36,000. Mather Group LLC. lifted its stake in shares of First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after purchasing an additional 5 shares during the period. Finally, Asset Planning Inc bought a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $38,000. Institutional investors own 78.01% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a research note on Tuesday. Barclays increased their price objective on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an "equal weight" rating in a research note on Monday, January 27th. Truist Financial increased 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 report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $2,323.50.

Remove Ads

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.40% of the stock is currently owned by insiders.

First Citizens BancShares Trading Down 1.0 %

Shares of FCNCA opened at $1,738.71 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 1 year low of $1,515.02 and a 1 year high of $2,412.93. The company has a 50 day simple moving average of $2,092.22 and a two-hundred day simple moving average of $2,063.27. The firm has a market cap of $23.61 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Friday, February 28th. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.12%.

First Citizens BancShares Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.