Jones Financial Companies Lllp Raises Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Jones Financial Companies Lllp boosted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 284.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 950 shares of the bank’s stock after acquiring an additional 703 shares during the period. Jones Financial Companies Lllp’s holdings in First Citizens BancShares were worth $1,761,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in FCNCA. MassMutual Private Wealth & Trust FSB grew its stake in shares of First Citizens BancShares by 54.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank’s stock valued at $32,000 after purchasing an additional 6 shares during the period. SVB Wealth LLC bought a new stake in shares of First Citizens BancShares during the 1st quarter valued at about $35,000. Community Bank N.A. bought a new stake in shares of First Citizens BancShares during the 1st quarter valued at about $44,000. Wayfinding Financial LLC bought a new stake in shares of First Citizens BancShares during the 1st quarter valued at about $64,000. Finally, Brooklyn Investment Group grew its stake in shares of First Citizens BancShares by 32.1% during the 1st quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock valued at $67,000 after purchasing an additional 9 shares during the period. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Trading Up 0.9%

Shares of NASDAQ:FCNCA opened at $1,964.43 on Friday. The stock has a 50 day moving average of $1,996.27 and a 200 day moving average of $1,889.75. The company has a market cap of $25.38 billion, a PE ratio of 11.59 and a beta of 0.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.76. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%.The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. As a group, equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s payout ratio is currently 4.60%.

Insider Buying and Selling

In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 409 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $1,630.00 per share, with a total value of $666,670.00. Following the acquisition, the insider owned 1,764 shares in the company, valued at approximately $2,875,320. This trade represents a 30.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Hope Holding Bryant purchased 409 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the acquisition, the insider owned 1,764 shares in the company, valued at $2,875,320. This represents a 30.18% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,494 shares of company stock valued at $2,485,986. Corporate insiders own 13.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FCNCA. Piper Sandler set a $2,150.00 price target on First Citizens BancShares and gave the company a “neutral” rating in a research note on Monday, July 28th. Citigroup boosted their price target on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. TD Cowen assumed coverage on First Citizens BancShares in a research note on Thursday, May 15th. They set a “buy” rating and a $2,400.00 price target for the company. UBS Group reiterated a “buy” rating and set a $2,410.00 price objective on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Finally, Cowen reiterated a “buy” rating on shares of First Citizens BancShares in a research note on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,291.17.

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.