American Century Companies Inc. Purchases 1,829 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

American Century Companies Inc. lifted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,005 shares of the bank’s stock after acquiring an additional 1,829 shares during the quarter. American Century Companies Inc.’s holdings in First Citizens BancShares were worth $27,480,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. M&T Bank Corp boosted its position in First Citizens BancShares by 0.8% during the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after acquiring an additional 5 shares in the last quarter. Mather Group LLC. boosted its position in First Citizens BancShares by 38.5% during 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 grew its stake in 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 during the last quarter. Exencial Wealth Advisors LLC raised its holdings in First Citizens BancShares by 1.2% in the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $904,000 after purchasing an additional 5 shares in the last quarter. Finally, Hemington Wealth Management raised its holdings in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FCNCA. JPMorgan Chase & Co. lifted their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Piper Sandler raised shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target on the stock in a report on Tuesday, March 11th. Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. Finally, StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus price target of $2,288.08.

First Citizens BancShares Trading Down 2.4 %

NASDAQ FCNCA opened at $1,835.10 on Friday. The company has a fifty day moving average of $2,025.58 and a 200 day moving average of $2,053.90. The company has a market capitalization of $24.92 billion, a PE ratio of 9.69, a P/E/G ratio of 0.94 and a beta of 0.81. 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 $1,518.00 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 EPS for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 0.43%. First Citizens BancShares’s payout ratio is 4.12%.

Insider Activity at First Citizens BancShares

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