Nisa Investment Advisors LLC Purchases 405 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Nisa Investment Advisors LLC increased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 24.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,038 shares of the bank’s stock after purchasing an additional 405 shares during the quarter. Nisa Investment Advisors LLC’s holdings in First Citizens BancShares were worth $2,892,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James & Associates lifted its holdings in First Citizens BancShares by 19.9% during the first quarter. Raymond James & Associates now owns 2,959 shares of the bank’s stock worth $1,970,000 after buying an additional 491 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in First Citizens BancShares during the first quarter worth $207,000. US Bancorp DE lifted its holdings in First Citizens BancShares by 277.0% during the first quarter. US Bancorp DE now owns 475 shares of the bank’s stock worth $317,000 after buying an additional 349 shares during the period. Cetera Advisor Networks LLC lifted its holdings in First Citizens BancShares by 21.0% during the first quarter. Cetera Advisor Networks LLC now owns 513 shares of the bank’s stock worth $341,000 after buying an additional 89 shares during the period. Finally, MetLife Investment Management LLC purchased a new stake in First Citizens BancShares during the first quarter worth $162,000. Institutional investors own 61.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FCNCA. The Goldman Sachs Group began coverage on First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective for the company. Barclays began coverage on First Citizens BancShares in a report on Thursday. They set an “equal weight” rating and a $1,850.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a research report on Monday, January 29th. StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Finally, UBS Group upped their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $1,785.57.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $1,569.17 on Friday. First Citizens BancShares, Inc. has a 52 week low of $945.32 and a 52 week high of $1,651.73. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $22.78 billion, a PE ratio of 2.00 and a beta of 0.89. The stock’s 50-day moving average price is $1,559.06 and its 200-day moving average price is $1,461.56.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. As a group, equities analysts expect that First Citizens BancShares, Inc. will post 178.72 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is 0.84%.

Insiders Place Their Bets

In other news, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the sale, the director now owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Olivia Britton Holding bought 466 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the acquisition, the insider now directly owns 121,694 shares in the company, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Insiders have acquired 1,388 shares of company stock valued at $1,825,220 in the last ninety days. 13.40% of the stock is currently 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.