Whittier Trust Co. of Nevada Inc. Increases Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Whittier Trust Co. of Nevada Inc. increased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,586 shares of the bank’s stock after purchasing an additional 106 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in First Citizens BancShares were worth $5,464,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC raised its position in First Citizens BancShares by 35.3% in the third quarter. Empowered Funds LLC now owns 230 shares of the bank’s stock valued at $423,000 after purchasing an additional 60 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth about $414,000. Landscape Capital Management L.L.C. purchased a new stake in First Citizens BancShares in the 3rd quarter valued at about $260,000. Charles Schwab Investment Management Inc. lifted its position in First Citizens BancShares by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock valued at $86,812,000 after buying an additional 1,339 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its stake in First Citizens BancShares by 16.8% during the third quarter. Raymond James Trust N.A. now owns 730 shares of the bank’s stock worth $1,344,000 after buying an additional 105 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FCNCA. Truist Financial upped their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Barclays increased their price target on shares of 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,288.08.

First Citizens BancShares Stock Up 0.4 %

Shares of NASDAQ FCNCA opened at $1,851.20 on Friday. First Citizens BancShares, Inc. has a 1 year low of $1,518.00 and a 1 year high of $2,412.93. The company has a market capitalization of $25.13 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. 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 business has a 50-day moving average of $2,052.67 and a two-hundred day moving average of $2,054.85.

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

First Citizens BancShares Announces Dividend

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

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now owns 1,141 shares in the company, valued at approximately $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 accessible through this link. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares 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.