Headlands Technologies LLC Raises Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Headlands Technologies LLC boosted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 260.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 191 shares of the bank’s stock after buying an additional 138 shares during the period. Headlands Technologies LLC’s holdings in First Citizens BancShares were worth $271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FCNCA. Raymond James Financial Services Advisors Inc. grew its position in First Citizens BancShares by 145.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank’s stock valued at $1,995,000 after acquiring an additional 833 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of First Citizens BancShares by 89.3% during the fourth quarter. Mackenzie Financial Corp now owns 1,914 shares of the bank’s stock worth $2,716,000 after buying an additional 903 shares in the last quarter. Nordea Investment Management AB grew its position in shares of First Citizens BancShares by 3,091.6% during the fourth quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock worth $34,203,000 after buying an additional 23,156 shares in the last quarter. Reinhart Partners LLC. grew its position in shares of First Citizens BancShares by 11.7% during the fourth quarter. Reinhart Partners LLC. now owns 56,803 shares of the bank’s stock worth $80,602,000 after buying an additional 5,952 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of First Citizens BancShares by 49.1% during the third quarter. Legal & General Group Plc now owns 47,287 shares of the bank’s stock worth $65,261,000 after buying an additional 15,579 shares in the last quarter. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FCNCA shares. Wedbush reissued an “outperform” rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a research report on Monday, January 29th. The Goldman Sachs Group assumed coverage on First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective for the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $2,100.00 target price (up previously from $1,900.00) on shares of First Citizens BancShares in a research note on Friday. UBS Group boosted their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Finally, Piper Sandler cut First Citizens BancShares from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $1,850.00 to $1,950.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $1,829.90.

Insiders Place Their Bets

In other news, major shareholder Olivia Britton Holding purchased 466 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the transaction, the insider now directly owns 121,694 shares in the company, valued at approximately $160,027,610. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Frank B. Holding, Jr. purchased 622 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the completion of the transaction, the chief executive officer now directly owns 97,609 shares in the company, valued at approximately $128,355,835. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Olivia Britton Holding acquired 466 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the transaction, the insider now owns 121,694 shares in the company, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,388 shares of company stock worth $1,825,220. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,754.50 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a fifty day moving average price of $1,582.88 and a 200 day moving average price of $1,480.90. First Citizens BancShares, Inc. has a 1-year low of $945.32 and a 1-year high of $1,810.03. The company has a market cap of $25.48 billion, a PE ratio of 9.74 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $48.49 by ($1.91). The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a return on equity of 15.75% and a net margin of 18.22%. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 179.92 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 17th. Shareholders of record on Friday, May 31st will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 0.37%. The ex-dividend date is Thursday, May 30th. First Citizens BancShares’s payout ratio is 3.64%.

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.