Ontario Teachers Pension Plan Board Buys Shares of 188 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Ontario Teachers Pension Plan Board purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 188 shares of the bank’s stock, valued at approximately $397,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Life Planners purchased a new position in First Citizens BancShares during the fourth quarter valued at $33,000. Hemington Wealth Management increased its holdings in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new position in shares of First Citizens BancShares in the 4th quarter worth about $36,000. Mather Group LLC. boosted its stake in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares in the last quarter. Finally, Asset Planning Inc purchased a new stake in First Citizens BancShares during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Transactions at First Citizens BancShares

In related news, CFO Craig L. Nix bought 17 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were bought 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 of the company’s stock, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.40% of the stock is currently owned by company insiders.

First Citizens BancShares Trading Up 1.5 %

First Citizens BancShares stock opened at $1,716.62 on Friday. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,412.93. The company has a market cap of $23.31 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.94 and a beta of 0.66. 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 business has a 50-day simple moving average of $1,872.48 and a two-hundred day simple moving average of $2,031.51.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) 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 EPS for the current year.

Analyst Ratings Changes

FCNCA has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a 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. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. JPMorgan Chase & Co. boosted their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Truist Financial increased their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,346.09.

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.