First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,209 shares of the bank’s stock after acquiring an additional 47 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Citizens BancShares were worth $4,668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retireful LLC acquired a new stake in First Citizens BancShares in the 3rd quarter valued at about $801,000. JPMorgan Chase & Co. raised its holdings in shares of First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after purchasing an additional 18,501 shares in the last quarter. Check Capital Management Inc. CA lifted its stake in First Citizens BancShares by 20.0% during the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock valued at $70,995,000 after purchasing an additional 5,605 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in First Citizens BancShares by 4.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank’s stock worth $7,811,000 after buying an additional 157 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 worth $86,812,000 after buying an additional 1,339 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price for the company in a report on Tuesday. The Goldman Sachs Group lifted their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price objective on 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. Finally, Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average price target of $2,323.50.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix acquired 17 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Trading Up 4.0 %

Shares of NASDAQ:FCNCA opened at $1,807.49 on Friday. First Citizens BancShares, Inc. has a 12-month low of $1,517.99 and a 12-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 market capitalization of $24.54 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The firm has a fifty day moving average of $2,084.95 and a two-hundred day moving average of $2,061.02.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data 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, equities analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

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.