First Citizens BancShares, Inc. (NASDAQ:FCNCA) Holdings Decreased by Great Lakes Advisors LLC

Great Lakes Advisors LLC decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 781 shares of the bank’s stock after selling 7 shares during the quarter. Great Lakes Advisors LLC’s holdings in First Citizens BancShares were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Life Planners acquired a new stake in First Citizens BancShares during the fourth quarter valued at $33,000. Hemington Wealth Management boosted 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 valued at $33,000 after purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in First Citizens BancShares during the fourth quarter valued at $36,000. Mather Group LLC. boosted 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 valued at $38,000 after purchasing an additional 5 shares during the last quarter. Finally, Asset Planning Inc acquired a new stake in First Citizens BancShares during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Activity at First Citizens BancShares

In other news, CFO Craig L. Nix purchased 17 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were purchased 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 directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.40% of the company’s stock.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $1,807.49 on Friday. First Citizens BancShares, Inc. has a twelve month low of $1,517.99 and a twelve month high of $2,412.93. 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 stock has a market capitalization of $24.54 billion, a PE ratio of 9.54, a P/E/G ratio of 0.94 and a beta of 0.81. The stock has a 50-day simple moving average of $2,078.08 and a 200 day simple moving average of $2,060.72.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping 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%. Research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.43%. First Citizens BancShares’s dividend payout ratio is 4.12%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of research reports. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, March 11th. The Goldman Sachs Group boosted their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price target for the company. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $2,323.50.

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.