Sterling Capital Management LLC Buys 132 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sterling Capital Management LLC increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 22.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 710 shares of the bank’s stock after acquiring an additional 132 shares during the quarter. Sterling Capital Management LLC’s holdings in First Citizens BancShares were worth $1,500,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Financial Life Planners bought a new stake in First Citizens BancShares during the 4th quarter valued at $33,000. Hemington Wealth Management increased its position in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after acquiring an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. bought a new stake in shares of First Citizens BancShares during the fourth quarter worth about $36,000. Mather Group LLC. lifted its position in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares in the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of First Citizens BancShares in the fourth quarter worth approximately $38,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Craig L. Nix purchased 17 shares of the stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the acquisition, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Trading Up 0.9 %

Shares of FCNCA opened at $1,673.22 on Tuesday. The firm has a market cap of $22.72 billion, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. 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 business has a 50-day moving average of $1,893.27 and a 200 day moving average of $2,036.22.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results 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%. As a group, research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of analyst reports. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Piper Sandler upgraded shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target on the stock in a report on Tuesday, March 11th. Truist Financial increased their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. boosted their target price on 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. Finally, Barclays upped their target price on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,288.08.

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.