Machina Capital S.A.S. Purchases New Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Machina Capital S.A.S. purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 197 shares of the bank’s stock, valued at approximately $280,000.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FCNCA shares. DA Davidson reiterated a “neutral” rating and issued a $1,650.00 target price (up from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. UBS Group boosted their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $2,100.00 price target (up previously from $1,900.00) on shares of First Citizens BancShares in a research report on Friday, April 26th. The Goldman Sachs Group began coverage on First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target for the company. Finally, Barclays boosted their price target on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,829.90.

First Citizens BancShares Stock Down 0.8 %

NASDAQ FCNCA traded down $13.50 on Tuesday, hitting $1,712.33. 73,214 shares of the stock traded hands, compared to its average volume of 82,463. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. The stock has a 50-day moving average of $1,603.82 and a 200 day moving average of $1,495.91. The company has a market capitalization of $24.86 billion, a P/E ratio of 9.58 and a beta of 0.86. First Citizens BancShares, Inc. has a twelve month low of $1,042.69 and a twelve month high of $1,810.03.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, May 30th. First Citizens BancShares’s payout ratio is 3.64%.

Insider Transactions at First Citizens BancShares

In related news, Director Ellen R. Alemany sold 600 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ellen R. Alemany sold 600 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen R. Alemany sold 1,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the completion of the transaction, the director now directly owns 2,335 shares of the company’s stock, valued at $4,124,170.40. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,388 shares of company stock worth $1,825,220 and have sold 2,600 shares worth $4,458,964. Insiders own 12.85% of the company’s stock.

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.