Cambridge Investment Research Advisors Inc. Acquires 27 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cambridge Investment Research Advisors Inc. boosted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190 shares of the bank’s stock after purchasing an additional 27 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in First Citizens BancShares were worth $352,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB increased its position in shares of First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank’s stock valued at $32,000 after acquiring an additional 6 shares during the period. Community Bank N.A. purchased a new position in shares of First Citizens BancShares in the first quarter valued at about $44,000. Toth Financial Advisory Corp increased its position in shares of First Citizens BancShares by 263.6% in the first quarter. Toth Financial Advisory Corp now owns 40 shares of the bank’s stock valued at $74,000 after acquiring an additional 29 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at about $77,000. Finally, Tower Research Capital LLC TRC increased its position in shares of First Citizens BancShares by 109.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 65 shares of the bank’s stock valued at $137,000 after acquiring an additional 34 shares during the period. 78.01% of the stock is owned by institutional investors.

Insider Activity

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 350 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were acquired at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the purchase, the chief executive officer owned 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Cowen assumed coverage on shares of First Citizens BancShares in a research report on Wednesday, May 14th. They issued a “buy” rating on the stock. UBS Group reiterated a “buy” rating and set a $2,410.00 price target on shares of First Citizens BancShares in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. JPMorgan Chase & Co. boosted their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Finally, Citigroup boosted their price target on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,299.50.

First Citizens BancShares Trading Down 0.7%

NASDAQ:FCNCA opened at $2,117.62 on Friday. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50-day simple moving average is $1,907.01 and its 200 day simple moving average is $1,940.39. The firm has a market capitalization of $28.14 billion, a P/E ratio of 12.13, a PEG ratio of 0.98 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. As a group, analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.37%. The ex-dividend date was Friday, May 30th. First Citizens BancShares’s payout ratio is currently 4.47%.

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.