Peterson Wealth Services Invests $229,000 in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Peterson Wealth Services bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, Holdings Channel.com reports. The fund bought 161 shares of the bank’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of First Citizens BancShares by 100.0% during the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after buying an additional 10 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in First Citizens BancShares by 53.3% in the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after purchasing an additional 8 shares in the last quarter. Castleview Partners LLC purchased a new stake in First Citizens BancShares in the 2nd quarter valued at approximately $31,000. Resurgent Financial Advisors LLC purchased a new stake in First Citizens BancShares in the 4th quarter valued at approximately $35,000. Finally, Fred Alger Management LLC purchased a new stake in First Citizens BancShares in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective on the stock. Barclays initiated coverage on First Citizens BancShares in a report on Thursday, April 11th. They issued an “equal weight” rating and a $1,850.00 price objective on the stock. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Wedbush reissued an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a research note on Monday, January 29th. Finally, DA Davidson reissued a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday. One research 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.com, the stock has an average rating of “Hold” and an average target price of $1,768.63.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 622 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 owns 97,609 shares in the company, valued at $128,355,835. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ellen R. Alemany sold 600 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now directly owns 4,842 shares in the company, valued at $7,549,113.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank B. Holding, Jr. bought 622 shares of the stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the purchase, the chief executive officer now directly owns 97,609 shares of the company’s stock, valued at $128,355,835. The disclosure for this purchase can be found here. Insiders bought a total of 1,388 shares of company stock worth $1,825,220 in the last ninety days. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Trading Up 1.1 %

FCNCA traded up $17.74 during trading on Thursday, hitting $1,567.74. The company’s stock had a trading volume of 8,971 shares, compared to its average volume of 80,373. The firm’s 50 day moving average price is $1,561.43 and its 200-day moving average price is $1,465.85. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $22.76 billion, a PE ratio of 1.98 and a beta of 0.89. First Citizens BancShares, Inc. has a twelve month low of $945.32 and a twelve month high of $1,651.73.

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

First Citizens BancShares Announces Dividend

The company 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 of this dividend was Wednesday, February 28th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.42%. First Citizens BancShares’s payout ratio is 0.84%.

First Citizens BancShares Company 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.