Nisa Investment Advisors LLC Acquires 405 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Nisa Investment Advisors LLC boosted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 24.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,038 shares of the bank’s stock after purchasing an additional 405 shares during the quarter. Nisa Investment Advisors LLC’s holdings in First Citizens BancShares were worth $2,892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FCNCA. Raymond James & Associates raised its stake in First Citizens BancShares by 19.9% in the first quarter. Raymond James & Associates now owns 2,959 shares of the bank’s stock valued at $1,970,000 after purchasing an additional 491 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in First Citizens BancShares during the first quarter worth about $207,000. US Bancorp DE raised its stake in First Citizens BancShares by 277.0% during the first quarter. US Bancorp DE now owns 475 shares of the bank’s stock worth $317,000 after acquiring an additional 349 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in First Citizens BancShares by 21.0% during the first quarter. Cetera Advisor Networks LLC now owns 513 shares of the bank’s stock worth $341,000 after acquiring an additional 89 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new position in First Citizens BancShares during the first quarter worth about $162,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,569.17 on Friday. The stock has a market capitalization of $22.78 billion, a price-to-earnings ratio of 2.00 and a beta of 0.89. First Citizens BancShares, Inc. has a 52-week low of $945.32 and a 52-week high of $1,651.73. The stock’s 50 day moving average price is $1,559.06 and its two-hundred day moving average price is $1,461.56. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. On average, equities analysts predict that First Citizens BancShares, Inc. will post 178.72 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 0.84%.

Insider Activity at First Citizens BancShares

In related news, major shareholder Olivia Britton Holding purchased 466 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the transaction, the insider now owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Olivia Britton Holding acquired 466 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the insider now owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the transaction, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The disclosure for this sale can be found here. In the last three months, insiders purchased 1,388 shares of company stock valued at $1,825,220. 13.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on FCNCA. The Goldman Sachs Group began coverage on First Citizens BancShares in a research note on Thursday, March 21st. They set a “buy” rating and a $1,950.00 target price for the company. DA Davidson reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research note on Monday, January 15th. Wedbush reiterated an “outperform” rating and issued a $1,800.00 target price on shares of First Citizens BancShares in a report on Monday, January 29th. Barclays initiated coverage on First Citizens BancShares in a report on Thursday. They issued an “equal weight” rating and a $1,850.00 target price on the stock. Finally, StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $1,785.57.

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.