Royal London Asset Management Ltd. Sells 26 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Royal London Asset Management Ltd. lowered its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 8,844 shares of the bank’s stock after selling 26 shares during the period. Royal London Asset Management Ltd.’s holdings in First Citizens BancShares were worth $18,688,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Life Planners bought a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $33,000. Hemington Wealth Management boosted its holdings in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after acquiring an additional 6 shares during the period. Duncker Streett & Co. Inc. bought a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $36,000. Mather Group LLC. boosted its holdings in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after acquiring an additional 5 shares during the period. Finally, Asset Planning Inc bought a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $38,000. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 0.4 %

Shares of NASDAQ:FCNCA opened at $1,851.20 on Friday. The company has a fifty day moving average of $2,052.67 and a 200-day moving average of $2,054.85. The company has a market capitalization of $25.13 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52-week low of $1,518.00 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 the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $1.95 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. First Citizens BancShares’s dividend payout ratio is 4.12%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FCNCA. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. The Goldman Sachs Group dropped their price target 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. Barclays lifted their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Piper Sandler upgraded shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a research report on Tuesday, March 11th. Finally, Truist Financial lifted 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 report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,288.08.

Insider Buying and Selling

In other news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.40% of the stock is currently owned by insiders.

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.