Integrated Quantitative Investments LLC Makes New Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Integrated Quantitative Investments LLC purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 210 shares of the bank’s stock, valued at approximately $444,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FCNCA. JPMorgan Chase & Co. lifted its position in First Citizens BancShares by 35.7% during the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock valued at $828,510,000 after purchasing an additional 103,137 shares in the last quarter. Norges Bank bought a new position in shares of First Citizens BancShares in the fourth quarter worth about $298,426,000. Proficio Capital Partners LLC purchased a new position in shares of First Citizens BancShares during the 4th quarter valued at about $147,341,000. Reinhart Partners LLC. grew its stake in shares of First Citizens BancShares by 2.1% during the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock valued at $122,516,000 after acquiring an additional 1,183 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in First Citizens BancShares by 128.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock worth $115,859,000 after acquiring an additional 30,828 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. Barclays increased their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Truist Financial boosted 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. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, JPMorgan Chase & Co. upped 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. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,288.08.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price 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 directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.19% of the stock is currently owned by insiders.

First Citizens BancShares Price Performance

FCNCA stock opened at $1,571.21 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 firm has a market capitalization of $21.33 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The company has a fifty day simple moving average of $1,978.80 and a two-hundred day simple moving average of $2,049.30. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

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.