GAMMA Investing LLC Takes $30,000 Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

GAMMA Investing LLC bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 20 shares of the bank’s stock, valued at approximately $30,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of First Citizens BancShares by 100.0% in the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after buying an additional 10 shares in the last quarter. Lindbrook Capital LLC increased its holdings in First Citizens BancShares by 53.3% in the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after acquiring an additional 8 shares in the last quarter. Federated Hermes Inc. raised its position in First Citizens BancShares by 60.0% during the third 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. City Holding Co. purchased a new position in First Citizens BancShares during the fourth quarter valued at $95,000. Finally, Desjardins Global Asset Management Inc. lifted its holdings in First Citizens BancShares by 16.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 85 shares of the bank’s stock valued at $121,000 after purchasing an additional 12 shares in the last quarter. 61.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the sale, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Olivia Britton Holding purchased 466 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the transaction, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,388 shares of company stock worth $1,825,220 and sold 2,600 shares worth $4,458,964. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Trading Down 0.2 %

Shares of FCNCA stock opened at $1,710.00 on Monday. First Citizens BancShares, Inc. has a twelve month low of $945.32 and a twelve month high of $1,810.03. The stock has a market cap of $24.83 billion, a price-to-earnings ratio of 9.49 and a beta of 0.86. The company’s 50-day moving average price is $1,600.68 and its 200-day moving average price is $1,493.30. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $1.64 dividend. The ex-dividend date is Thursday, May 30th. This represents a $6.56 annualized dividend and a dividend yield of 0.38%. First Citizens BancShares’s dividend payout ratio (DPR) is 3.64%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FCNCA shares. DA Davidson reaffirmed a “neutral” rating and issued a $1,650.00 price target (up from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Wedbush restated 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. Barclays lifted their price target on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Piper Sandler downgraded First Citizens BancShares from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $1,850.00 to $1,950.00 in a research note on Friday, April 26th. Finally, The Goldman Sachs Group began coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They set a “buy” rating and a $1,950.00 target price on the stock. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,829.90.

First Citizens BancShares Company 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.