Farther Finance Advisors LLC Has $448,000 Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Farther Finance Advisors LLC raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 360.9% in the fourth quarter, HoldingsChannel reports. The fund owned 212 shares of the bank’s stock after purchasing an additional 166 shares during the quarter. Farther Finance Advisors LLC’s holdings in First Citizens BancShares were worth $448,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in shares of First Citizens BancShares by 0.8% in the third 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 in the last quarter. Mather Group LLC. lifted its holdings 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 purchasing an additional 5 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of First Citizens BancShares by 3.0% in the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock valued at $363,000 after purchasing an additional 5 shares in the last quarter. Exencial Wealth Advisors LLC lifted its holdings 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 valued at $904,000 after purchasing an additional 5 shares in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after purchasing an additional 6 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Activity

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. 13.40% of the stock is owned by company insiders.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,807.49 on Monday. The firm has a market cap of $24.54 billion, a PE ratio of 9.54, a PEG ratio of 0.94 and a beta of 0.81. The stock’s fifty day moving average price is $2,078.08 and its two-hundred day moving average price is $2,061.30. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 1 year low of $1,517.99 and a 1 year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued 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%. On average, equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. UBS Group assumed coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price on the stock. The Goldman Sachs Group lifted their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price target 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. Finally, Truist Financial lifted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

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.