First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 30.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,741 shares of the bank’s stock after selling 750 shares during the period. Inspire Investing LLC’s holdings in First Citizens BancShares were worth $3,679,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. M&T Bank Corp lifted its position in shares of First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after acquiring an additional 5 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock valued at $237,000 after acquiring an additional 6 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of First Citizens BancShares by 33.3% in the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank’s stock valued at $57,000 after acquiring an additional 7 shares in the last quarter. Tandem Capital Management Corp ADV lifted its position in shares of First Citizens BancShares by 1.8% in the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock valued at $845,000 after acquiring an additional 8 shares in the last quarter. Finally, Mount Lucas Management LP lifted its position in shares of First Citizens BancShares by 2.6% in the third quarter. Mount Lucas Management LP now owns 315 shares of the bank’s stock valued at $580,000 after acquiring an additional 8 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,218.11 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market cap of $31.03 billion, a P/E ratio of 12.71, a PEG ratio of 1.03 and a beta of 0.86. First Citizens BancShares, Inc. has a 52 week low of $1,383.00 and a 52 week high of $2,388.78. The company has a 50-day moving average price of $2,169.63 and a 200 day moving average price of $2,028.74.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the business posted $55.92 earnings per share. Research analysts predict that First Citizens BancShares, Inc. will post 187.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective on the stock. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, January 16th. UBS Group started coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price on the stock. Finally, Barclays lifted their target price on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,290.75.

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.