First Citizens BancShares, Inc. $FCNCA Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435,278 shares of the bank’s stock after purchasing an additional 18,190 shares during the period. JPMorgan Chase & Co. owned 3.50% of First Citizens BancShares worth $778,785,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FCNCA. Goldman Sachs Group Inc. boosted its stake in shares of First Citizens BancShares by 1.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock worth $69,324,000 after buying an additional 681 shares during the period. Empowered Funds LLC raised its stake in First Citizens BancShares by 71.9% during the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after acquiring an additional 164 shares during the last quarter. Focus Partners Wealth lifted its position in First Citizens BancShares by 5.2% during the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock worth $447,000 after acquiring an additional 12 shares during the period. Nordea Investment Management AB grew its stake in shares of First Citizens BancShares by 7.1% in the 2nd quarter. Nordea Investment Management AB now owns 916 shares of the bank’s stock valued at $1,798,000 after purchasing an additional 61 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of First Citizens BancShares by 1.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,094 shares of the bank’s stock valued at $2,132,000 after purchasing an additional 13 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 0.8%

FCNCA stock opened at $1,990.69 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The company’s 50-day moving average price is $2,117.44 and its 200 day moving average price is $1,949.24. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,232.21. The company has a market cap of $24.76 billion, a P/E ratio of 12.01 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. On average, research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, February 27th. First Citizens BancShares’s payout ratio is presently 5.07%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FCNCA shares. Raymond James Financial raised First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. Piper Sandler raised their target price on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. TD Cowen dropped their price target on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Barclays reduced their price objective on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research report on Monday, January 26th. Finally, Keefe, Bruyette & Woods lowered their price objective on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating on the stock in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,238.27.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. purchased 135 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average price of $1,629.67 per share, with a total value of $220,005.45. Following the purchase, the chief executive officer directly owned 2,527 shares of the company’s stock, valued at $4,118,176.09. This represents a 5.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 13.40% of the company’s stock.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.