Vanguard Group Inc. Acquires 47,167 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Vanguard Group Inc. boosted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,064,822 shares of the bank’s stock after acquiring an additional 47,167 shares during the quarter. Vanguard Group Inc. owned 7.33% of First Citizens BancShares worth $1,740,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC bought a new stake in shares of First Citizens BancShares in the first quarter worth about $29,000. Mather Group LLC. bought a new stake in shares of First Citizens BancShares during the 1st quarter valued at about $31,000. Blue Trust Inc. grew its holdings in shares of 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 acquiring an additional 10 shares during the period. GAMMA Investing LLC purchased a new stake in First Citizens BancShares in the fourth quarter worth $30,000. Finally, Principal Securities Inc. purchased a new stake in shares of First Citizens BancShares in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany sold 1,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $1,757.27, for a total value of $1,757,270.00. Following the completion of the sale, the director now directly owns 1,335 shares in the company, valued at $2,345,955.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other First Citizens BancShares news, Director Ellen R. Alemany sold 516 shares of First Citizens BancShares stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $1,750.00, for a total transaction of $903,000.00. Following the completion of the sale, the director now directly owns 819 shares in the company, valued at approximately $1,433,250. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $1,757.27, for a total transaction of $1,757,270.00. Following the completion of the sale, the director now directly owns 1,335 shares in the company, valued at $2,345,955.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,000 shares of company stock valued at $5,273,568. 13.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on FCNCA. Keefe, Bruyette & Woods restated an “outperform” rating and set a $2,100.00 price target (up from $1,900.00) on shares of First Citizens BancShares in a report on Friday, April 26th. Jefferies Financial Group started coverage on First Citizens BancShares in a report on Tuesday, July 9th. They issued a “buy” rating and a $2,005.00 target price on the stock. Piper Sandler downgraded shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $1,850.00 to $1,950.00 in a report on Friday, April 26th. Barclays upped their price objective on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, DA Davidson restated a “neutral” rating and set a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average target price of $1,857.18.

First Citizens BancShares Trading Down 0.1 %

FCNCA traded down $2.55 on Monday, reaching $1,830.24. 37,272 shares of the company traded hands, compared to its average volume of 81,164. The company has a market cap of $26.59 billion, a P/E ratio of 10.17 and a beta of 0.83. The firm has a fifty day simple moving average of $1,716.25 and a two-hundred day simple moving average of $1,609.47. First Citizens BancShares, Inc. has a one year low of $1,274.91 and a one year high of $1,856.30. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.77.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Thursday, April 25th. The bank reported $52.92 EPS for the quarter, beating analysts’ consensus estimates of $44.27 by $8.65. The business had revenue of $2.44 billion for 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%. As a group, equities research analysts expect that First Citizens BancShares, Inc. will post 191.52 earnings per share for the current year.

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.