Intech Investment Management LLC Has $2.21 Million Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Intech Investment Management LLC grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 68.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,044 shares of the bank’s stock after purchasing an additional 425 shares during the period. Intech Investment Management LLC’s holdings in First Citizens BancShares were worth $2,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Life Planners acquired a new position in shares of First Citizens BancShares in the fourth quarter worth about $33,000. Hemington Wealth Management boosted its holdings in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares during the period. Duncker Streett & Co. Inc. acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $36,000. Mather Group LLC. boosted its holdings in shares of 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 purchasing an additional 5 shares during the period. Finally, Asset Planning Inc acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $38,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target for the company. Keefe, Bruyette & Woods raised their price target on shares of 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. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Truist Financial lifted their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,288.08.

First Citizens BancShares Trading Down 2.1 %

NASDAQ:FCNCA opened at $1,842.96 on Friday. First Citizens BancShares, Inc. has a 12 month low of $1,518.00 and a 12 month high of $2,412.93. The firm has a market cap of $25.02 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 0.94 and a beta of 0.81. 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 company’s 50 day moving average is $2,056.93 and its 200-day moving average is $2,056.10.

First Citizens BancShares (NASDAQ:FCNCA) last released 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%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

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

Insider Buying and Selling

In related news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the transaction, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.40% of the stock is currently owned by insiders.

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.