Gladstone Capital Management LLP Reduces Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Gladstone Capital Management LLP trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 80.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,380 shares of the bank’s stock after selling 17,734 shares during the quarter. First Citizens BancShares accounts for approximately 0.8% of Gladstone Capital Management LLP’s holdings, making the stock its 17th biggest holding. Gladstone Capital Management LLP’s holdings in First Citizens BancShares were worth $9,255,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FCNCA. Norges Bank purchased a new position in First Citizens BancShares during the fourth quarter worth $298,426,000. JPMorgan Chase & Co. boosted its stake in shares of First Citizens BancShares by 35.7% during the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock worth $828,510,000 after purchasing an additional 103,137 shares during the period. Proficio Capital Partners LLC bought a new position in First Citizens BancShares during the 4th quarter valued at about $147,341,000. AMF Tjanstepension AB purchased a new stake in First Citizens BancShares in the 4th quarter worth about $99,818,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of First Citizens BancShares by 128.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock valued at $115,859,000 after buying an additional 30,828 shares during the period. Institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.19% of the stock is currently owned by company insiders.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA opened at $1,571.21 on Friday. 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 capitalization of $21.33 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The firm has a 50 day moving average of $1,978.80 and a 200 day moving average of $2,049.30. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s payout ratio is currently 4.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FCNCA shares. JPMorgan Chase & Co. increased their price target 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. Barclays increased their target price on 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. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price for the company. Truist Financial raised their price target 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. Finally, The Goldman Sachs Group lowered their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,288.08.

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.