Invesco Ltd. Has $34.01 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Invesco Ltd. grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,093 shares of the bank’s stock after acquiring an additional 9 shares during the period. Invesco Ltd. owned 0.12% of First Citizens BancShares worth $34,005,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. increased its stake in shares of First Citizens BancShares by 69.6% during the 4th quarter. Sei Investments Co. now owns 3,031 shares of the bank’s stock worth $6,404,000 after purchasing an additional 1,244 shares during the last quarter. JPMorgan Chase & Co. increased its position in First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after buying an additional 18,501 shares during the last quarter. Check Capital Management Inc. CA raised its holdings in First Citizens BancShares by 20.0% during the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock valued at $70,995,000 after buying an additional 5,605 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of First Citizens BancShares by 4.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank’s stock worth $7,811,000 after buying an additional 157 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of First Citizens BancShares during the 4th quarter worth about $39,739,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Down 0.4 %

Shares of FCNCA stock opened at $1,691.76 on Thursday. The stock has a market cap of $22.97 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a fifty day moving average price of $1,872.48 and a 200 day moving average price of $2,031.51. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

Wall Street Analyst Weigh In

FCNCA has been the subject of a number of recent analyst reports. 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 research report on Monday, January 27th. The Goldman Sachs Group decreased their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. JPMorgan Chase & Co. lifted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Truist Financial upped their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Finally, Barclays lifted their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,346.09.

Insider Activity

In other news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price 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 $2,146,369.33. This trade represents a 1.51 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.