Schonfeld Strategic Advisors LLC Acquires 1,746 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Schonfeld Strategic Advisors LLC raised its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 124.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,149 shares of the bank’s stock after purchasing an additional 1,746 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in First Citizens BancShares were worth $6,654,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Mather Group LLC. grew its position in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares in the last quarter. Private Advisor Group LLC raised its stake in First Citizens BancShares by 3.0% in the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock valued at $363,000 after purchasing an additional 5 shares in the last quarter. Exencial Wealth Advisors LLC grew its stake in First Citizens BancShares by 1.2% in the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $904,000 after buying an additional 5 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in First Citizens BancShares by 3.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank’s stock worth $328,000 after buying an additional 5 shares in the last quarter. Finally, Hemington Wealth Management increased its holdings in shares of First Citizens BancShares by 60.0% in 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 last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Up 0.1 %

Shares of FCNCA opened at $1,781.47 on Friday. The stock has a market capitalization of $24.19 billion, a P/E ratio of 9.40, a PEG ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. 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 firm has a fifty day simple moving average of $1,792.06 and a two-hundred day simple moving average of $2,018.46.

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

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.44%. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FCNCA shares. StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Monday. Truist Financial boosted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Barclays reduced their price target on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Piper Sandler upgraded shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price objective for the company in a report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average target price of $2,330.82.

Insider Activity

In related news, CFO Craig L. Nix bought 17 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.40% of the company’s stock.

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.