Headlands Technologies LLC Has $271,000 Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Headlands Technologies LLC lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 260.4% during the fourth quarter, Holdings Channel reports. The firm owned 191 shares of the bank’s stock after purchasing an additional 138 shares during the quarter. Headlands Technologies LLC’s holdings in First Citizens BancShares were worth $271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC raised its position in First Citizens BancShares by 756.8% during the third quarter. AQR Capital Management LLC now owns 38,436 shares of the bank’s stock valued at $53,046,000 after buying an additional 33,950 shares during the period. FMR LLC increased its position in First Citizens BancShares by 17.2% in the 3rd quarter. FMR LLC now owns 189,186 shares of the bank’s stock worth $261,095,000 after purchasing an additional 27,729 shares during the last quarter. Nordea Investment Management AB increased its position in First Citizens BancShares by 3,091.6% in the 4th quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock worth $34,203,000 after purchasing an additional 23,156 shares during the last quarter. International Assets Investment Management LLC acquired a new position in First Citizens BancShares in the 4th quarter worth about $26,176,000. Finally, Vanguard Group Inc. increased its position in First Citizens BancShares by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,010,749 shares of the bank’s stock worth $1,394,935,000 after purchasing an additional 17,142 shares during the last quarter. 61.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on FCNCA shares. Piper Sandler lowered First Citizens BancShares from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $1,850.00 to $1,950.00 in a research report on Friday. StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. UBS Group upped their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. DA Davidson restated a “neutral” rating and set a $1,650.00 target price (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Finally, The Goldman Sachs Group assumed coverage on First Citizens BancShares in a research note on Thursday, March 21st. They set a “buy” rating and a $1,950.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, First Citizens BancShares has a consensus rating of “Hold” and an average target price of $1,829.90.

First Citizens BancShares Trading Down 2.5 %

First Citizens BancShares stock opened at $1,754.50 on Friday. The business has a 50 day moving average price of $1,582.88 and a two-hundred day moving average price of $1,480.90. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. The stock has a market cap of $25.48 billion, a price-to-earnings ratio of 9.74 and a beta of 0.89. First Citizens BancShares, Inc. has a 12 month low of $945.32 and a 12 month high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.75%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. As a group, equities analysts forecast that First Citizens BancShares, Inc. will post 179.92 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a $1.64 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.37%. First Citizens BancShares’s payout ratio is presently 3.64%.

Insider Transactions at First Citizens BancShares

In related news, major shareholder Olivia Britton Holding bought 466 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the acquisition, the insider now owns 121,694 shares in the company, valued at approximately $160,027,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 466 shares of the company’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 $612,790.00. Following the acquisition, the insider now directly owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Hope Holding Bryant purchased 300 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average cost of $1,315.00 per share, with a total value of $394,500.00. Following the completion of the acquisition, the insider now directly owns 1,978 shares in the company, valued at $2,601,070. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 1,388 shares of company stock valued at $1,825,220. Corporate insiders own 13.40% of the company’s stock.

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.