69,730 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 69,730 shares of the bank’s stock, valued at approximately $147,341,000. First Citizens BancShares makes up about 1.9% of Proficio Capital Partners LLC’s portfolio, making the stock its 4th largest holding.

Other institutional investors also recently bought and sold shares of the company. M&T Bank Corp boosted its stake in shares of First Citizens BancShares by 2.8% during the fourth quarter. M&T Bank Corp now owns 624 shares of the bank’s stock valued at $1,319,000 after purchasing an additional 17 shares during the period. Symphony Financial Services Inc. purchased a new stake in shares of First Citizens BancShares during the fourth quarter valued at $220,000. Assetmark Inc. boosted its stake in shares of First Citizens BancShares by 57.7% during the fourth quarter. Assetmark Inc. now owns 5,363 shares of the bank’s stock valued at $11,332,000 after purchasing an additional 1,962 shares during the period. Exencial Wealth Advisors LLC boosted its stake in shares of First Citizens BancShares by 1.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $904,000 after purchasing an additional 5 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of First Citizens BancShares by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 47,724 shares of the bank’s stock valued at $100,842,000 after purchasing an additional 568 shares during the period. 78.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Craig L. Nix acquired 17 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the acquisition, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $1,738.71 on Friday. The company has a market capitalization of $23.61 billion, a PE ratio of 9.18, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company has a 50-day simple moving average of $2,092.22 and a two-hundred day simple moving average of $2,063.27. First Citizens BancShares, Inc. has a one year low of $1,515.02 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.45%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.12%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FCNCA shares. The Goldman Sachs Group boosted their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,323.50.

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.