Bleakley Financial Group LLC Acquires 22 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Bleakley Financial Group LLC grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 196 shares of the bank’s stock after buying an additional 22 shares during the quarter. Bleakley Financial Group LLC’s holdings in First Citizens BancShares were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in shares of First Citizens BancShares by 100.0% in the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after purchasing an additional 10 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of First Citizens BancShares by 53.3% in the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after purchasing an additional 8 shares during the period. Castleview Partners LLC purchased a new stake in shares of First Citizens BancShares in the second quarter valued at approximately $31,000. Resurgent Financial Advisors LLC purchased a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $35,000. Finally, Fred Alger Management LLC purchased a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $39,000. Institutional investors own 61.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on FCNCA shares. Wedbush restated an “outperform” rating and set a $1,800.00 target price on shares of First Citizens BancShares in a report on Monday, January 29th. DA Davidson restated a “neutral” rating and set a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a report on Monday. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group started coverage on First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 target price for the company. Finally, UBS Group upped their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $1,768.63.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,537.60 on Tuesday. First Citizens BancShares, Inc. has a 12 month low of $945.32 and a 12 month high of $1,651.73. The stock has a fifty day moving average price of $1,559.12 and a 200-day moving average price of $1,464.18. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. The firm has a market cap of $22.33 billion, a PE ratio of 1.96 and a beta of 0.89.

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

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $1.64 per share. The ex-dividend date was Wednesday, February 28th. This represents a $6.56 annualized dividend and a dividend yield of 0.43%. First Citizens BancShares’s dividend payout ratio is presently 0.84%.

Insider Activity at First Citizens BancShares

In related news, Director Ellen R. Alemany sold 600 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Frank B. Holding, Jr. bought 622 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the transaction, the chief executive officer now directly owns 97,609 shares in the company, valued at $128,355,835. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen R. Alemany sold 600 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the sale, the director now directly owns 4,842 shares in the company, valued at $7,549,113.78. The disclosure for this sale can be found here. Insiders have bought a total of 1,388 shares of company stock valued at $1,825,220 in the last ninety days. Company insiders own 12.85% of the company’s stock.

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.