SouthState Corp Buys Shares of 3,149 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

SouthState Corp acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,149 shares of the bank’s stock, valued at approximately $4,468,000.

Several other large investors also recently modified their holdings of FCNCA. Commonwealth Equity Services LLC grew its position in shares of First Citizens BancShares by 4.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock worth $419,000 after buying an additional 12 shares during the period. Xponance Inc. lifted its holdings in shares of First Citizens BancShares by 6.0% in the 3rd quarter. Xponance Inc. now owns 548 shares of the bank’s stock worth $756,000 after purchasing an additional 31 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of First Citizens BancShares by 11.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 573 shares of the bank’s stock worth $791,000 after purchasing an additional 60 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of First Citizens BancShares by 53.3% in the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after purchasing an additional 8 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in shares of First Citizens BancShares by 13.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 182 shares of the bank’s stock worth $251,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 61.18% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock traded up $37.51 during trading hours on Thursday, hitting $1,713.50. 90,139 shares of the company’s stock traded hands, compared to its average volume of 82,832. First Citizens BancShares, Inc. has a 12-month low of $945.32 and a 12-month high of $1,810.03. The stock has a market capitalization of $24.88 billion, a price-to-earnings ratio of 9.44 and a beta of 0.86. The company has a fifty day simple moving average of $1,593.32 and a 200-day simple moving average of $1,487.76. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14.

First Citizens BancShares Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, May 30th. First Citizens BancShares’s dividend payout ratio is presently 3.64%.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of recent research reports. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group initiated coverage on First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price on the stock. Barclays increased their target price on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. UBS Group increased their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Wedbush restated an “outperform” rating and set a $1,800.00 price objective on shares of First Citizens BancShares in a research note on Monday, January 29th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus price target of $1,829.90.

Insider Activity

In other news, CEO Frank B. Holding, Jr. acquired 622 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the acquisition, the chief executive officer now owns 97,609 shares in the company, valued at approximately $128,355,835. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Frank B. Holding, Jr. acquired 622 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the acquisition, the chief executive officer now owns 97,609 shares in the company, valued at approximately $128,355,835. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 1,388 shares of company stock valued at $1,825,220 and sold 2,600 shares valued at $4,458,964. Insiders own 13.40% of the company’s stock.

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.