First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Position Increased by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 89.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,914 shares of the bank’s stock after purchasing an additional 903 shares during the period. Mackenzie Financial Corp’s holdings in First Citizens BancShares were worth $2,716,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FCNCA. Blue Trust Inc. raised its stake in shares of First Citizens BancShares by 100.0% during the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after purchasing an additional 10 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after buying an additional 8 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of First Citizens BancShares by 60.0% in the 3rd quarter. Federated Hermes Inc. now owns 56 shares of the bank’s stock worth $77,000 after acquiring an additional 21 shares during the period. UMB Bank n.a. boosted its holdings in shares of First Citizens BancShares by 1,040.0% in the third quarter. UMB Bank n.a. now owns 57 shares of the bank’s stock valued at $79,000 after acquiring an additional 52 shares in the last quarter. Finally, City Holding Co. bought a new stake in First Citizens BancShares during the fourth quarter worth approximately $95,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now directly owns 4,842 shares in the company, valued at approximately $7,549,113.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of the company’s 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 transaction, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Frank B. Holding, Jr. bought 622 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the purchase, the chief executive officer now directly owns 97,609 shares in the company, valued at $128,355,835. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,388 shares of company stock valued at $1,825,220. Company insiders own 12.85% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,622.75 on Tuesday. The company has a 50-day moving average of $1,566.98 and a two-hundred day moving average of $1,472.16. The stock has a market cap of $23.56 billion, a price-to-earnings ratio of 2.07 and a beta of 0.89. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. First Citizens BancShares, Inc. has a one year low of $945.32 and a one year high of $1,651.73.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. On average, equities research analysts expect that First Citizens BancShares, Inc. will post 177.19 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $1.64 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.40%. First Citizens BancShares’s dividend payout ratio is 0.84%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on First Citizens BancShares in a research note on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target for the company. DA Davidson reaffirmed a “neutral” rating and set a $1,650.00 target price (up from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. Wedbush reiterated an “outperform” rating and issued a $1,800.00 price target on shares of First Citizens BancShares in a research report on Monday, January 29th. UBS Group raised their price objective on shares of 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. Finally, Barclays assumed coverage on shares of First Citizens BancShares in a report on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $1,768.63.

About First Citizens BancShares

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.