Toth Financial Advisory Corp Purchases 29 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Toth Financial Advisory Corp raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 263.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 40 shares of the bank’s stock after acquiring an additional 29 shares during the period. Toth Financial Advisory Corp’s holdings in First Citizens BancShares were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in First Citizens BancShares by 35.7% in the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock worth $828,510,000 after acquiring an additional 103,137 shares during the last quarter. FMR LLC increased its stake in shares of First Citizens BancShares by 10.5% in the fourth quarter. FMR LLC now owns 357,629 shares of the bank’s stock worth $755,677,000 after purchasing an additional 34,097 shares in the last quarter. Capital International Investors raised its position in shares of First Citizens BancShares by 78.2% in the fourth quarter. Capital International Investors now owns 172,723 shares of the bank’s stock valued at $364,967,000 after purchasing an additional 75,785 shares during the period. Norges Bank bought a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $298,426,000. Finally, GAMMA Investing LLC lifted its stake in shares of First Citizens BancShares by 169,861.1% during the 1st quarter. GAMMA Investing LLC now owns 122,372 shares of the bank’s stock valued at $226,892,000 after buying an additional 122,300 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock opened at $1,831.72 on Tuesday. The firm has a market capitalization of $24.34 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The business’s 50-day moving average price is $1,786.20 and its 200-day moving average price is $1,973.96.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping analysts’ consensus estimates of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid 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 yield of 0.43%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.47%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of First Citizens BancShares in a research note on Wednesday, May 21st. They issued a “hold” rating and a $2,050.00 price objective for the company. TD Cowen initiated coverage on First Citizens BancShares in a research report on Thursday, May 15th. They issued a “buy” rating and a $2,400.00 price target for the company. Barclays decreased their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Wall Street Zen downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. Finally, Cowen started coverage on First Citizens BancShares in a report on Wednesday, May 14th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,340.33.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 350 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the transaction, the chief executive officer now owns 2,758 shares of the company’s stock, valued at $4,440,380. The trade was a 14.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.40% of the company’s stock.

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.