First Citizens BancShares, Inc. $FCNCA Shares Purchased by AlphaQuest LLC

AlphaQuest LLC raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 577.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 759 shares of the bank’s stock after purchasing an additional 647 shares during the period. AlphaQuest LLC’s holdings in First Citizens BancShares were worth $1,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Allworth Financial LP boosted its holdings in shares of First Citizens BancShares by 35.3% in the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank’s stock valued at $45,000 after buying an additional 6 shares during the period. Personal CFO Solutions LLC lifted its holdings in First Citizens BancShares by 4.0% in the second quarter. Personal CFO Solutions LLC now owns 156 shares of the bank’s stock worth $305,000 after acquiring an additional 6 shares during the last quarter. Corient Private Wealth LLC boosted its stake in First Citizens BancShares by 0.6% in the second quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after acquiring an additional 6 shares during the period. US Bancorp DE grew its holdings in shares of First Citizens BancShares by 0.8% during the second quarter. US Bancorp DE now owns 873 shares of the bank’s stock valued at $1,708,000 after purchasing an additional 7 shares during the last quarter. Finally, Greenleaf Trust raised its position in shares of First Citizens BancShares by 2.0% during the 3rd quarter. Greenleaf Trust now owns 416 shares of the bank’s stock worth $744,000 after purchasing an additional 8 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ellen R. Alemany purchased 300 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the purchase, the director owned 300 shares in the company, valued at $300,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Frank B. Holding, Jr. purchased 135 shares of the stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the completion of the transaction, the chief executive officer owned 2,527 shares in the company, valued at $4,118,176.09. This trade represents a 5.64% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 13.40% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $2,069.57 on Friday. The stock has a market cap of $25.75 billion, a P/E ratio of 12.49 and a beta of 0.69. The firm’s 50-day simple moving average is $2,078.48 and its 200 day simple moving average is $1,949.51. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,245.33. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.81.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.24 billion. Equities analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s payout ratio is presently 5.07%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FCNCA shares. The Goldman Sachs Group lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective for the company. in a research report on Tuesday, January 6th. TD Cowen reduced their price target on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a report on Monday, January 26th. Citigroup restated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday, December 29th. Finally, Barclays reduced their target price on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,254.18.

About First Citizens BancShares

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.