Schroder Investment Management Group Acquires 239 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Schroder Investment Management Group lifted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 107.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 462 shares of the bank's stock after purchasing an additional 239 shares during the period. Schroder Investment Management Group's holdings in First Citizens BancShares were worth $976,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp boosted its holdings in First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank's stock valued at $1,117,000 after purchasing an additional 5 shares during the period. Mather Group LLC. boosted its stake in shares of First Citizens BancShares by 38.5% in 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 period. Private Advisor Group LLC grew its position in First Citizens BancShares by 3.0% during the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock worth $363,000 after buying an additional 5 shares in the last quarter. Exencial Wealth Advisors LLC increased its position in shares of First Citizens BancShares by 1.2% in the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock worth $904,000 after purchasing an additional 5 shares during the period. Finally, Hemington Wealth Management increased its holdings in First Citizens BancShares by 60.0% in the 4th 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 period. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Up 1.1 %

NASDAQ:FCNCA traded up $17.85 on Friday, hitting $1,657.49. The stock had a trading volume of 95,958 shares, compared to its average volume of 88,839. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The firm's fifty day simple moving average is $1,903.26 and its two-hundred day simple moving average is $2,036.31. 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 stock has a market cap of $22.50 billion, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.47%. The ex-dividend date was Friday, February 28th. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.12%.

Insiders Place Their Bets

In related news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 13.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FCNCA. Keefe, Bruyette & Woods increased their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Citigroup downgraded shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Truist Financial boosted their price target 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. The Goldman Sachs Group decreased their price objective on shares of 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, JPMorgan Chase & Co. boosted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,288.08.

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.