First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Position Lowered by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 11.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 308 shares of the bank’s stock after selling 40 shares during the period. Sequoia Financial Advisors LLC’s holdings in First Citizens BancShares were worth $651,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Retireful LLC purchased a new stake in shares of First Citizens BancShares in the third quarter worth approximately $801,000. JPMorgan Chase & Co. lifted its position in First Citizens BancShares by 6.8% in the 3rd 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 in the last quarter. Check Capital Management Inc. CA boosted its stake in shares of First Citizens BancShares by 20.0% during the 4th quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock valued at $70,995,000 after buying an additional 5,605 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of First Citizens BancShares by 4.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank’s stock valued at $7,811,000 after acquiring an additional 157 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of First Citizens BancShares by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock worth $86,812,000 after acquiring an additional 1,339 shares during the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Up 1.6 %

FCNCA stock opened at $1,836.66 on Tuesday. The stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The company has a 50-day moving average of $2,071.82 and a two-hundred day moving average of $2,060.21. First Citizens BancShares, Inc. has a 52-week low of $1,518.00 and a 52-week high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

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%. As a group, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.12%.

Analysts Set New Price Targets

A number of research firms recently issued reports on FCNCA. Truist Financial lifted their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. UBS Group started coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective on the stock. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. The Goldman Sachs Group boosted their target price on shares of 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective for the company. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

Insider Activity at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The stock was bought at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 13.40% of the company’s stock.

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.