Sei Investments Co. Acquires 1,244 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sei Investments Co. raised its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 69.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,031 shares of the bank’s stock after purchasing an additional 1,244 shares during the period. Sei Investments Co.’s holdings in First Citizens BancShares were worth $6,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Life Planners bought a new stake in First Citizens BancShares in the fourth quarter valued at approximately $33,000. Hemington Wealth Management raised its holdings in First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after buying an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. bought a new stake in First Citizens BancShares during the 4th quarter valued at $36,000. Mather Group LLC. boosted its position in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after buying an additional 5 shares during the period. Finally, Asset Planning Inc bought a new stake in First Citizens BancShares in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Trading Up 1.0 %

Shares of FCNCA stock opened at $1,854.12 on Tuesday. The stock has a market capitalization of $25.17 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm’s 50 day moving average is $2,018.88 and its 200 day moving average is $2,055.75. First Citizens BancShares, Inc. has a 12-month low of $1,518.00 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods upped their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. The Goldman Sachs Group decreased their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Finally, Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and an average price target of $2,288.08.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 13.40% of the company’s stock.

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.