First American Trust FSB Acquires Shares of 107 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

First American Trust FSB bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 107 shares of the bank’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in First Citizens BancShares during the 4th quarter worth approximately $147,341,000. AMF Tjanstepension AB acquired a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $99,818,000. FMR LLC grew its position in shares of First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after acquiring an additional 33,713 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of First Citizens BancShares by 128.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock valued at $115,859,000 after acquiring an additional 30,828 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of First Citizens BancShares by 337.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank’s stock valued at $48,095,000 after acquiring an additional 20,149 shares in the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Up 0.5 %

Shares of FCNCA stock opened at $1,892.29 on Wednesday. First Citizens BancShares, Inc. has a 1 year low of $1,518.00 and a 1 year high of $2,412.93. The firm has a market capitalization of $25.69 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The stock has a fifty day moving average of $2,043.67 and a two-hundred day moving average of $2,055.22. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.41%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FCNCA shares. The Goldman Sachs Group lowered their target price on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Piper Sandler upgraded First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price for the company in a research note on Tuesday, March 11th. Finally, Truist Financial increased their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,288.08.

Insider Buying and Selling

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.40% of the stock is owned by corporate insiders.

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.