LPL Financial LLC Buys 1,258 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

LPL Financial LLC lifted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 53.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,633 shares of the bank’s stock after acquiring an additional 1,258 shares during the period. LPL Financial LLC’s holdings in First Citizens BancShares were worth $7,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCNCA. Kirkoswald Asset Management LLC bought a new stake in First Citizens BancShares during the fourth quarter valued at about $22,821,000. KLP Kapitalforvaltning AS bought a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $15,002,000. Sei Investments Co. grew its stake in shares of First Citizens BancShares by 69.6% in the fourth quarter. Sei Investments Co. now owns 3,031 shares of the bank’s stock worth $6,404,000 after acquiring an additional 1,244 shares during the last quarter. American Century Companies Inc. increased its position in First Citizens BancShares by 16.4% during the fourth quarter. American Century Companies Inc. now owns 13,005 shares of the bank’s stock worth $27,480,000 after acquiring an additional 1,829 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in First Citizens BancShares by 4.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,586 shares of the bank’s stock valued at $5,464,000 after purchasing an additional 106 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Trading Down 3.7 %

Shares of FCNCA stock opened at $1,571.21 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $21.33 billion, a P/E ratio of 8.29, a P/E/G ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The firm has a 50-day moving average price of $1,978.80 and a 200 day moving average price of $2,050.23.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping 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 forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.50%. First Citizens BancShares’s dividend payout ratio is 4.12%.

Insider Buying and Selling

In other news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group lowered their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Barclays raised their target price on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Finally, UBS Group began coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,288.08.

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.