Holderness Investments Co. Purchases 32 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Holderness Investments Co. grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 638 shares of the bank’s stock after buying an additional 32 shares during the period. Holderness Investments Co.’s holdings in First Citizens BancShares were worth $1,348,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. FMR LLC boosted its stake in First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after purchasing an additional 33,713 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in 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. Proficio Capital Partners LLC acquired a new stake in First Citizens BancShares in the 4th quarter worth approximately $147,341,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in First Citizens BancShares by 15.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after purchasing an additional 7,613 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its stake in First Citizens BancShares by 2.1% in the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock worth $122,516,000 after purchasing an additional 1,183 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FCNCA. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. Keefe, Bruyette & Woods lifted their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, 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 research note on Tuesday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,288.08.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $1,842.96 on Friday. 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 firm has a market cap of $25.02 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The company has a 50 day moving average price of $2,056.93 and a 200-day moving average price of $2,056.10. First Citizens BancShares, Inc. has a 1-year low of $1,518.00 and a 1-year high of $2,412.93.

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

First Citizens BancShares Dividend Announcement

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

Insider Activity

In related news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.40% of the company’s stock.

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.