First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Midwest Professional Planners LTD.

Midwest Professional Planners LTD. grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 18.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 834 shares of the bank’s stock after acquiring an additional 128 shares during the period. Midwest Professional Planners LTD.’s holdings in First Citizens BancShares were worth $1,762,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FCNCA. Nations Financial Group Inc. IA ADV raised its position in shares of First Citizens BancShares by 4.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 314 shares of the bank’s stock worth $578,000 after acquiring an additional 14 shares during the period. GSA Capital Partners LLP raised its position in shares of First Citizens BancShares by 44.5% during the 3rd quarter. GSA Capital Partners LLP now owns 575 shares of the bank’s stock worth $1,059,000 after purchasing an additional 177 shares during the last quarter. Freemont Management S.A. acquired a new position in shares of First Citizens BancShares during the 3rd quarter worth about $1,841,000. Metis Global Partners LLC raised its position in shares of First Citizens BancShares by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after purchasing an additional 6 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of First Citizens BancShares by 170.0% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 324 shares of the bank’s stock worth $596,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Upgrades and Downgrades

FCNCA has been the subject of several research analyst reports. Barclays upped their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. The Goldman Sachs Group upped their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. 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 report on Tuesday. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,323.50.

Insider Buying and Selling

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.40% of the stock is currently owned by corporate insiders.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $1,738.71 on Friday. The firm has a 50 day simple moving average of $2,092.22 and a 200-day simple moving average of $2,063.27. First Citizens BancShares, Inc. has a 1-year low of $1,515.02 and a 1-year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81.

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 analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.45%. First Citizens BancShares’s payout ratio is currently 4.12%.

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.