First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by National Pension Service

National Pension Service trimmed its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,326 shares of the bank’s stock after selling 1,814 shares during the period. National Pension Service owned 0.12% of First Citizens BancShares worth $36,610,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of FCNCA. M&T Bank Corp increased its position in First Citizens BancShares by 0.8% during the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares during the last quarter. Mather Group LLC. increased its position in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the last quarter. Private Advisor Group LLC increased its position in First Citizens BancShares by 3.0% during the fourth quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock worth $363,000 after purchasing an additional 5 shares during the last quarter. Metis Global Partners LLC increased its position in First Citizens BancShares by 4.9% during the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after purchasing an additional 6 shares during the last quarter. Finally, Hemington Wealth Management increased its position in 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 purchasing an additional 6 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays raised their price objective 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 report on Monday, January 27th. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. increased their target price 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. UBS Group began coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. Finally, Truist Financial increased their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Trading Up 0.6 %

NASDAQ FCNCA opened at $2,048.06 on Friday. The firm has a 50 day simple moving average of $2,140.71 and a 200-day simple moving average of $2,071.80. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a one year low of $1,505.73 and a one year high of $2,412.93. The firm has a market cap of $28.65 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 0.94 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share 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%. Equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.38%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

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.