Quent Capital LLC Boosts Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Quent Capital LLC lifted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 249 shares of the bank’s stock after buying an additional 10 shares during the quarter. Quent Capital LLC’s holdings in First Citizens BancShares were worth $354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FCNCA. Raymond James & Associates raised its holdings in shares of First Citizens BancShares by 19.9% in the 1st quarter. Raymond James & Associates now owns 2,959 shares of the bank’s stock valued at $1,970,000 after buying an additional 491 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in First Citizens BancShares during the 1st quarter worth $207,000. US Bancorp DE grew its stake in First Citizens BancShares by 277.0% during the 1st quarter. US Bancorp DE now owns 475 shares of the bank’s stock worth $317,000 after purchasing an additional 349 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in First Citizens BancShares by 21.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 513 shares of the bank’s stock worth $341,000 after purchasing an additional 89 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new position in First Citizens BancShares during the 1st quarter worth $162,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 622 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the transaction, the chief executive officer now owns 97,609 shares of the company’s stock, valued at $128,355,835. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Frank B. Holding, Jr. bought 622 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, with a total value of $817,930.00. Following the purchase, the chief executive officer now directly owns 97,609 shares in the company, valued at $128,355,835. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the sale, the director now directly owns 4,842 shares in the company, valued at $7,549,113.78. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,388 shares of company stock worth $1,825,220. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Up 1.1 %

Shares of FCNCA traded up $18.12 during midday trading on Friday, reaching $1,635.00. 93,538 shares of the company were exchanged, compared to its average volume of 81,933. The stock has a 50-day moving average price of $1,534.46 and a 200-day moving average price of $1,444.83. The company has a market cap of $23.74 billion, a price-to-earnings ratio of 2.08 and a beta of 0.88. First Citizens BancShares, Inc. has a 1-year low of $910.25 and a 1-year high of $1,651.73. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares (NASDAQ:FCNCA) last released 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 return on equity of 13.52% and a net margin of 51.04%. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. Research analysts expect that First Citizens BancShares, Inc. will post 177.52 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $1.64 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 annualized dividend and a dividend yield of 0.40%. First Citizens BancShares’s dividend payout ratio is presently 0.84%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wedbush reissued an “outperform” rating and set a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. DA Davidson restated a “neutral” rating on shares of First Citizens BancShares in a research note on Monday, January 15th. UBS Group raised 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. Finally, The Goldman Sachs Group initiated coverage on First Citizens BancShares in a research note on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,774.83.

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.