First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,720 shares of the bank’s stock after purchasing an additional 287 shares during the period. Janney Montgomery Scott LLC’s holdings in First Citizens BancShares were worth $3,860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FCNCA. Blue Trust Inc. grew its stake in First Citizens BancShares by 100.0% during the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after buying an additional 10 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at $30,000. Principal Securities Inc. purchased a new stake in First Citizens BancShares in the 4th quarter valued at $43,000. Harvest Fund Management Co. Ltd boosted its stake in First Citizens BancShares by 362.5% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 37 shares of the bank’s stock worth $52,000 after purchasing an additional 29 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in First Citizens BancShares during the 4th quarter worth $65,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FCNCA shares. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. DA Davidson reissued a “neutral” rating and issued a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. UBS Group increased their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective on the stock. Finally, Piper Sandler cut shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $1,850.00 to $1,950.00 in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,829.90.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $1,780.14 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.10. The business’s fifty day moving average price is $1,647.92 and its two-hundred day moving average price is $1,527.61. The stock has a market cap of $25.85 billion, a PE ratio of 9.88 and a beta of 0.86. First Citizens BancShares, Inc. has a one year low of $1,181.71 and a one year high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $52.92 EPS for the quarter, topping analysts’ consensus estimates of $44.27 by $8.65. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.30 billion. First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.48%. On average, analysts forecast that First Citizens BancShares, Inc. will post 188.62 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Friday, May 31st. First Citizens BancShares’s payout ratio is 3.64%.

Insider Activity

In other First Citizens BancShares news, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the completion of the transaction, the director now owns 2,335 shares in the company, valued at approximately $4,124,170.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other First Citizens BancShares news, Director Ellen R. Alemany sold 484 shares of First Citizens BancShares stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $1,750.12, for a total transaction of $847,058.08. Following the sale, the director now directly owns 335 shares in the company, valued at approximately $586,290.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen R. Alemany sold 1,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the transaction, the director now owns 2,335 shares of the company’s stock, valued at $4,124,170.40. The disclosure for this sale can be found here. Insiders sold a total of 3,600 shares of company stock valued at $6,209,022 in the last 90 days. 12.85% of the stock is currently owned by 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.