First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Ethic Inc.

Ethic Inc. trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.0% during the fourth quarter, Holdings Channel reports. The firm owned 974 shares of the bank’s stock after selling 41 shares during the quarter. Ethic Inc.’s holdings in First Citizens BancShares were worth $2,058,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of First Citizens BancShares by 19.2% in the 3rd quarter. Barclays PLC now owns 7,195 shares of the bank’s stock worth $13,246,000 after purchasing an additional 1,158 shares during the last quarter. JPMorgan Chase & Co. increased its position in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after buying an additional 18,501 shares during the period. Reinhart Partners LLC. lifted its stake in First Citizens BancShares by 2.1% in the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock valued at $122,516,000 after buying an additional 1,183 shares during the last quarter. Wedmont Private Capital acquired a new position in shares of First Citizens BancShares during the fourth quarter valued at $219,000. Finally, Cooper Financial Group acquired a new position in shares of First Citizens BancShares during the fourth quarter valued at $309,000. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Up 0.6%

FCNCA opened at $1,841.60 on Monday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $25.00 billion, a PE ratio of 9.72, a P/E/G ratio of 0.94 and a beta of 0.64. The stock’s fifty day moving average is $1,770.60 and its 200-day moving average is $2,008.55. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. On average, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. First Citizens BancShares’s dividend payout ratio is currently 4.47%.

Insider Transactions at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 350 shares of First Citizens BancShares stock in a transaction on Friday, May 2nd. The stock was bought at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the purchase, the chief executive officer now owns 2,758 shares of the company’s stock, valued at $4,440,380. This represents a 14.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Craig L. Nix bought 17 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the acquisition, the chief financial officer now owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This trade represents a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on FCNCA. Truist Financial raised their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group lowered their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Barclays cut their target price on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target on the stock in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,330.82.

About First Citizens BancShares

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.