Dimensional Fund Advisors LP Has $306.18 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Dimensional Fund Advisors LP trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 144,899 shares of the bank's stock after selling 939 shares during the period. Dimensional Fund Advisors LP owned about 1.04% of First Citizens BancShares worth $306,183,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in First Citizens BancShares during the fourth quarter worth about $298,426,000. JPMorgan Chase & Co. boosted its stake in First Citizens BancShares by 35.7% during the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock worth $828,510,000 after acquiring an additional 103,137 shares during the last quarter. Capital International Investors grew its holdings in First Citizens BancShares by 78.2% during the fourth quarter. Capital International Investors now owns 172,723 shares of the bank's stock valued at $364,967,000 after purchasing an additional 75,785 shares during the period. Proficio Capital Partners LLC bought a new stake in First Citizens BancShares in the fourth quarter valued at approximately $147,341,000. Finally, AMF Tjanstepension AB acquired a new stake in First Citizens BancShares in the fourth quarter worth $99,818,000. 78.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Barclays dropped their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research note on Friday. Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a research report on Tuesday, March 11th. JPMorgan Chase & Co. lifted their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. Finally, Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Five 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,330.82.

Insider Buying and Selling

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the firm's stock in a transaction on Friday, March 7th. The shares were purchased 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 directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.19% of the stock is currently owned by insiders.

First Citizens BancShares Stock Performance

FCNCA stock traded down $11.39 during midday trading on Friday, reaching $1,779.26. 82,669 shares of the company were exchanged, compared to its average volume of 89,596. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The firm has a market capitalization of $24.16 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The business has a 50-day moving average price of $1,824.27 and a two-hundred day moving average price of $2,025.79. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating analysts' consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.44%. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.12%.

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.