JPMorgan Chase & Co. Has $828.51 Million Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

JPMorgan Chase & Co. lifted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 35.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 392,097 shares of the bank’s stock after buying an additional 103,137 shares during the quarter. JPMorgan Chase & Co.’s holdings in First Citizens BancShares were worth $828,510,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FCNCA. Check Capital Management Inc. CA grew its position in First Citizens BancShares by 20.0% during the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock worth $70,995,000 after buying an additional 5,605 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of First Citizens BancShares by 4.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank’s stock worth $7,811,000 after acquiring an additional 157 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $39,739,000. Assetmark Inc. increased its stake in First Citizens BancShares by 57.7% in the fourth quarter. Assetmark Inc. now owns 5,363 shares of the bank’s stock valued at $11,332,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in First Citizens BancShares during the fourth quarter valued at approximately $2,656,000. Institutional investors own 78.01% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target on the stock. Barclays boosted their target price on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Piper Sandler upgraded First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a research note on Tuesday, March 11th. The Goldman Sachs Group cut their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. upped their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,288.08.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,835.10 on Friday. The stock’s 50 day moving average is $2,025.58 and its 200 day moving average is $2,052.31. First Citizens BancShares, Inc. has a one year low of $1,518.00 and a one year high of $2,412.93. The firm has a market cap of $24.92 billion, a P/E ratio of 9.69, 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 current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.95 per share. The ex-dividend date was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.12%.

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.