American Century Companies Inc. Boosts Stake in First Citizens BancShares, Inc. $FCNCA

American Century Companies Inc. increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,926 shares of the bank’s stock after acquiring an additional 3,028 shares during the period. American Century Companies Inc. owned approximately 0.14% of First Citizens BancShares worth $37,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in First Citizens BancShares by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 417,088 shares of the bank’s stock worth $816,022,000 after purchasing an additional 15,921 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of First Citizens BancShares by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,583 shares of the bank’s stock worth $225,429,000 after buying an additional 14,060 shares during the period. Nuveen LLC acquired a new position in shares of First Citizens BancShares during the 1st quarter worth approximately $149,963,000. First Citizens Bank & Trust Co. lifted its position in shares of First Citizens BancShares by 0.3% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 79,132 shares of the bank’s stock valued at $154,819,000 after buying an additional 258 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of First Citizens BancShares by 3.9% during the 1st quarter. Alliancebernstein L.P. now owns 77,148 shares of the bank’s stock valued at $143,042,000 after buying an additional 2,919 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $1,878.48 on Friday. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The company has a market capitalization of $23.36 billion, a price-to-earnings ratio of 11.11 and a beta of 0.75. The stock has a fifty day moving average of $1,797.10 and a two-hundred day moving average of $1,894.04. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $44.62 EPS for the quarter, beating analysts’ consensus estimates of $41.51 by $3.11. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a return on equity of 11.06% and a net margin of 15.99%. On average, analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, November 28th. First Citizens BancShares’s payout ratio is presently 4.97%.

Analysts Set New Price Targets

Several brokerages recently commented on FCNCA. UBS Group boosted their price target on shares of First Citizens BancShares from $2,200.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Sunday, September 28th. Truist Financial upped their price target on shares of First Citizens BancShares from $2,000.00 to $2,050.00 and gave the stock a “hold” rating in a research report on Tuesday, October 28th. Barclays decreased their price target on shares of First Citizens BancShares from $2,400.00 to $2,190.00 and set an “equal weight” rating on the stock in a research note on Friday, October 24th. Finally, The Goldman Sachs Group lowered their price objective on First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating on the stock in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus target price of $2,165.83.

Insider Buying and Selling at First Citizens BancShares

In other news, Director Ellen R. Alemany acquired 300 shares of First Citizens BancShares stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average price of $1,000.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director owned 300 shares of the company’s stock, valued at approximately $300,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

First Citizens BancShares Profile

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.