Sheets Smith Wealth Management Has $6.20 Million Position in First Citizens BancShares, Inc. $FCNCA

Sheets Smith Wealth Management raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,887 shares of the bank’s stock after purchasing an additional 403 shares during the period. Sheets Smith Wealth Management’s holdings in First Citizens BancShares were worth $6,196,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of First Citizens BancShares in the 3rd quarter valued at $27,000. UMB Bank n.a. lifted its holdings in First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after acquiring an additional 8 shares in the last quarter. Steph & Co. bought a new position in First Citizens BancShares during the third quarter worth about $32,000. Root Financial Partners LLC acquired a new position in First Citizens BancShares in the third quarter valued at about $32,000. Finally, Harbor Investment Advisory LLC grew its stake in First Citizens BancShares by 150.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock valued at $32,000 after acquiring an additional 9 shares during the period. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 134 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $1,550.00 per share, for a total transaction of $207,700.00. Following the completion of the acquisition, the chief executive officer owned 2,749 shares in the company, valued at approximately $4,260,950. This represents a 5.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 258 shares of company stock valued at $404,236 over the last three months. 13.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $2,200.00 target price (down from $2,450.00) on shares of First Citizens BancShares in a research note on Wednesday. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Piper Sandler lifted their price target on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Finally, The Goldman Sachs Group cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,211.00.

First Citizens BancShares Stock Performance

FCNCA opened at $1,906.63 on Friday. The business’s 50-day simple moving average is $1,954.75 and its 200 day simple moving average is $1,941.24. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,232.21. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $22.77 billion, a PE ratio of 11.51, a PEG ratio of 1.42 and a beta of 0.65.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.24 billion. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%. As a group, sell-side 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 company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Friday, February 27th were paid a $2.10 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 5.07%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.