Corient Private Wealth LLC Sells 306 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Corient Private Wealth LLC trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 19.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,271 shares of the bank's stock after selling 306 shares during the period. Corient Private Wealth LLC's holdings in First Citizens BancShares were worth $2,686,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its stake in First Citizens BancShares by 45.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 235 shares of the bank's stock valued at $496,000 after purchasing an additional 73 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of First Citizens BancShares by 6.7% during the fourth quarter. Natixis Advisors LLC now owns 23,855 shares of the bank's stock valued at $50,406,000 after buying an additional 1,489 shares during the last quarter. Picton Mahoney Asset Management increased its position in shares of First Citizens BancShares by 23.7% during the fourth quarter. Picton Mahoney Asset Management now owns 6,419 shares of the bank's stock worth $13,564,000 after acquiring an additional 1,230 shares in the last quarter. Midwest Professional Planners LTD. raised its holdings in shares of First Citizens BancShares by 18.1% in the 4th quarter. Midwest Professional Planners LTD. now owns 834 shares of the bank's stock worth $1,762,000 after acquiring an additional 128 shares during the last quarter. Finally, Tredje AP fonden lifted its position in First Citizens BancShares by 444.1% in the 4th quarter. Tredje AP fonden now owns 6,034 shares of the bank's stock valued at $12,750,000 after acquiring an additional 4,925 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FCNCA shares. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a report on Tuesday, March 11th. Barclays boosted their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an "equal weight" rating in a report on Monday, January 27th. UBS Group began coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 price objective for the company. Finally, StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,288.08.

First Citizens BancShares Stock Performance

Shares of FCNCA stock traded up $2.32 on Thursday, hitting $1,880.07. 71,484 shares of the stock were exchanged, compared to its average volume of 84,562. The firm's 50 day moving average is $2,038.18 and its two-hundred day moving average is $2,053.98. First Citizens BancShares, Inc. has a one year low of $1,518.00 and a one year high of $2,412.93. The firm has a market capitalization of $25.53 billion, a PE ratio of 9.92, 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.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.41%. First Citizens BancShares's dividend payout ratio is currently 4.12%.

Insider Activity

In other news, CFO Craig L. Nix acquired 17 shares of the business's stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the acquisition, the chief financial officer now owns 1,141 shares of the company's stock, valued at $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.40% of the stock is owned by company insiders.

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.