Sei Investments Co. Grows Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sei Investments Co. lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 69.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,031 shares of the bank's stock after acquiring an additional 1,244 shares during the quarter. Sei Investments Co.'s holdings in First Citizens BancShares were worth $6,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in First Citizens BancShares by 16.4% in the fourth quarter. American Century Companies Inc. now owns 13,005 shares of the bank's stock worth $27,480,000 after buying an additional 1,829 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of First Citizens BancShares by 4.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,586 shares of the bank's stock valued at $5,464,000 after purchasing an additional 106 shares during the period. Holderness Investments Co. lifted its stake in shares of First Citizens BancShares by 5.3% in the 4th quarter. Holderness Investments Co. now owns 638 shares of the bank's stock valued at $1,348,000 after purchasing an additional 32 shares during the period. Whittier Trust Co. boosted its position in shares of First Citizens BancShares by 6.3% during the fourth quarter. Whittier Trust Co. now owns 5,978 shares of the bank's stock valued at $12,632,000 after purchasing an additional 352 shares in the last quarter. Finally, Xponance Inc. grew its stake in First Citizens BancShares by 15.7% in the fourth quarter. Xponance Inc. now owns 1,119 shares of the bank's stock worth $2,364,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 78.01% of the company's stock.

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Wall Street Analysts Forecast Growth

FCNCA has been the subject of several recent research reports. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. Barclays boosted their target price on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an "equal weight" rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a report on Monday, December 9th. They set a "buy" rating and a $2,600.00 price target for the company. Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research note on Tuesday, March 11th. Finally, Truist Financial raised their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, First Citizens BancShares has an average rating of "Moderate Buy" and an average price target of $2,288.08.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price 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 directly owns 1,141 shares of the company's stock, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.19% of the stock is owned by corporate insiders.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA traded down $119.16 during midday trading on Friday, hitting $1,512.90. 90,916 shares of the stock traded hands, compared to its average volume of 86,703. The firm has a market capitalization of $20.54 billion, a P/E ratio of 7.99, a PEG ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a one year low of $1,470.15 and a one year high of $2,412.93. 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 50-day moving average of $1,991.87 and a two-hundred day moving average of $2,051.38.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its 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 fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.52%. First Citizens BancShares's dividend payout ratio (DPR) is 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.