Kestra Private Wealth Services LLC Buys 20 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Kestra Private Wealth Services LLC lifted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 429 shares of the bank’s stock after acquiring an additional 20 shares during the period. Kestra Private Wealth Services LLC’s holdings in First Citizens BancShares were worth $795,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in FCNCA. MassMutual Private Wealth & Trust FSB increased its stake in First Citizens BancShares by 54.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank’s stock worth $32,000 after acquiring an additional 6 shares during the last quarter. Community Bank N.A. purchased a new stake in First Citizens BancShares during the 1st quarter worth about $44,000. Johnson Financial Group Inc. purchased a new stake in First Citizens BancShares during the 4th quarter worth about $77,000. Wayfinding Financial LLC purchased a new stake in First Citizens BancShares during the 1st quarter worth about $64,000. Finally, Toth Financial Advisory Corp increased its position in shares of First Citizens BancShares by 263.6% during the first quarter. Toth Financial Advisory Corp now owns 40 shares of the bank’s stock worth $74,000 after purchasing an additional 29 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Stock Down 2.1%

Shares of First Citizens BancShares stock opened at $2,113.83 on Friday. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.77. The stock has a 50 day moving average price of $1,950.28 and a two-hundred day moving average price of $1,939.67. The stock has a market capitalization of $28.09 billion, a P/E ratio of 12.10, a PEG ratio of 0.99 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 analysts’ consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. Equities analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

Insider Activity

In related news, CEO Frank B. Holding, Jr. acquired 350 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were bought at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the acquisition, the chief executive officer owned 2,758 shares in the company, valued at $4,440,380. This trade represents a 14.53% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FCNCA. Citigroup boosted their target price on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Cowen began coverage on First Citizens BancShares in a research note on Wednesday, May 14th. They set a “buy” rating on the stock. Jefferies Financial Group began coverage on First Citizens BancShares in a research note on Wednesday, May 21st. They set a “hold” rating and a $2,050.00 price target on the stock. Barclays decreased their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Finally, UBS Group reissued a “buy” rating and set a $2,410.00 price target on shares of First Citizens BancShares in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,299.50.

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.