First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 391 shares of the bank’s stock after purchasing an additional 29 shares during the quarter. Benjamin Edwards Inc.’s holdings in First Citizens BancShares were worth $826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FCNCA. Financial Life Planners acquired a new position in shares of First Citizens BancShares during the fourth quarter worth about $33,000. Hemington Wealth Management lifted its position in First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after acquiring an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new position in First Citizens BancShares in the 4th quarter worth approximately $36,000. Mather Group LLC. grew its position in 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 acquiring an additional 5 shares in the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $38,000. 78.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Citizens BancShares

In related news, CFO Craig L. Nix bought 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, with a total value of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares in the company, valued at approximately $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 SEC, which is available through this hyperlink. Also, CEO Frank B. Holding, Jr. purchased 350 shares of First Citizens BancShares stock in a transaction dated Friday, May 2nd. The stock was bought at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the purchase, the chief executive officer now owns 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53 % increase in their position. The disclosure for this purchase can be found here. 13.40% of the stock is currently owned by insiders.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,830.22 on Friday. The company has a market cap of $24.85 billion, a P/E ratio of 9.66, a PEG ratio of 0.94 and a beta of 0.64. The business has a 50 day moving average of $1,771.80 and a two-hundred day moving average of $2,009.82. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.22 billion. As a group, analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.43%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.47%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, April 28th. Keefe, Bruyette & Woods lifted their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Truist Financial increased their target price on 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. Finally, Piper Sandler upgraded shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $2,330.82.

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.