Bronte Capital Management Pty Ltd. Cuts Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Bronte Capital Management Pty Ltd. cut its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 12.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,487 shares of the bank's stock after selling 3,060 shares during the period. First Citizens BancShares comprises approximately 0.0% of Bronte Capital Management Pty Ltd.'s portfolio, making the stock its 18th largest position. Bronte Capital Management Pty Ltd. owned about 0.15% of First Citizens BancShares worth $45,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in First Citizens BancShares in the fourth quarter worth about $33,000. Hemington Wealth Management raised its stake in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after buying an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $36,000. Mather Group LLC. increased its stake 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 valued at $38,000 after purchasing an additional 5 shares in the last quarter. Finally, Asset Planning Inc bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $38,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Down 0.2 %

NASDAQ FCNCA opened at $1,728.36 on Wednesday. The company has a fifty day simple moving average of $2,107.06 and a two-hundred day simple moving average of $2,067.45. First Citizens BancShares, Inc. has a 12-month low of $1,505.73 and a 12-month high of $2,412.93. The stock has a market cap of $23.47 billion, a P/E ratio of 9.12, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

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First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating 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, analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company 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 dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Friday, February 28th. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FCNCA shares. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a "buy" rating and a $2,600.00 target price for the company. UBS Group started coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price target on the stock. Citigroup downgraded shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. 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 report on Wednesday, January 29th. Finally, The Goldman Sachs Group raised their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of "Moderate Buy" and an average price target of $2,323.50.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.40% of the company's stock.

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.

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