Toth Financial Advisory Corp Buys 29 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Toth Financial Advisory Corp lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 263.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40 shares of the bank’s stock after purchasing an additional 29 shares during the quarter. Toth Financial Advisory Corp’s holdings in First Citizens BancShares were worth $74,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FCNCA. MassMutual Private Wealth & Trust FSB grew its holdings in shares of First Citizens BancShares by 54.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank’s stock worth $32,000 after purchasing an additional 6 shares during the last quarter. Hemington Wealth Management boosted its position in First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after buying an additional 6 shares during the period. Duncker Streett & Co. Inc. bought a new stake in First Citizens BancShares during the 4th quarter worth approximately $36,000. Asset Planning Inc bought a new stake in First Citizens BancShares during the 4th quarter worth approximately $38,000. Finally, SBI Securities Co. Ltd. acquired a new position in First Citizens BancShares in the 4th quarter valued at approximately $40,000. 78.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of recent research reports. Wall Street Zen lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, April 28th. Jefferies Financial Group assumed coverage on First Citizens BancShares in a report on Wednesday, May 21st. They set a “hold” rating and a $2,050.00 target price on the stock. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a research note on Tuesday, March 11th. Barclays lowered their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating for the company in a research report on Friday, April 25th. Finally, Cowen started coverage on First Citizens BancShares in a report on Wednesday, May 14th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,340.33.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,831.72 on Tuesday. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The stock has a market cap of $24.34 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50-day simple moving average is $1,786.20 and its 200 day simple moving average is $1,973.96.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $37.72 by $0.07. The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares’s payout ratio is currently 4.47%.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,758 shares of the company’s stock, valued at $4,440,380. The trade was a 14.53% increase in their position. The purchase 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 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.