First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by 44 Wealth Management LLC

44 Wealth Management LLC lowered its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,255 shares of the bank’s stock after selling 75 shares during the period. First Citizens BancShares comprises 1.0% of 44 Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. 44 Wealth Management LLC’s holdings in First Citizens BancShares were worth $2,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FCNCA. Financial Life Planners acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth about $33,000. Hemington Wealth Management raised its position in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after acquiring an additional 6 shares in the last quarter. Mather Group LLC. raised its position in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after acquiring an additional 5 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth about $38,000. Finally, Brooklyn Investment Group acquired a new stake in shares of First Citizens BancShares during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 3.2 %

Shares of FCNCA stock opened at $2,049.25 on Friday. The business’s 50 day moving average is $2,145.78 and its two-hundred day moving average is $2,069.58. First Citizens BancShares, Inc. has a twelve month low of $1,500.94 and a twelve month high of $2,412.93. The company has a market capitalization of $28.67 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.96 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced 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 return on equity of 13.22% and a net margin of 18.55%. Equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FCNCA shares. Barclays raised 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 report on Monday, January 27th. Piper Sandler raised their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Truist Financial raised their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods raised 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 note on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average price target of $2,323.50.

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.