E. Ohman J or Asset Management AB Sells 1,890 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

E. Ohman J or Asset Management AB reduced its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 9.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,291 shares of the bank's stock after selling 1,890 shares during the period. First Citizens BancShares comprises approximately 0.9% of E. Ohman J or Asset Management AB's portfolio, making the stock its 29th biggest position. E. Ohman J or Asset Management AB owned about 0.13% of First Citizens BancShares worth $38,649,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FCNCA. FMR LLC increased its position in shares of First Citizens BancShares by 11.6% during the 3rd quarter. FMR LLC now owns 323,532 shares of the bank's stock valued at $595,607,000 after purchasing an additional 33,713 shares during the last quarter. JPMorgan Chase & Co. grew its position in First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after buying an additional 18,501 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in First Citizens BancShares by 15.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank's stock worth $107,749,000 after buying an additional 7,613 shares during the last quarter. Reinhart Partners LLC. raised its position in First Citizens BancShares by 2.1% in the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank's stock worth $122,516,000 after acquiring an additional 1,183 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $86,812,000 after acquiring an additional 1,339 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FCNCA. Truist Financial boosted 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 note on Wednesday, January 29th. Piper Sandler upped their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Barclays lifted their price objective 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 note on Monday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a "buy" rating and a $2,600.00 target price on the stock. Finally, Citigroup lowered First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $2,323.50.

First Citizens BancShares Trading Up 0.6 %

Shares of FCNCA traded up $13.81 during mid-day trading on Friday, hitting $2,224.28. 55,438 shares of the company's stock traded hands, compared to its average volume of 70,551. The business's 50-day moving average price is $2,152.11 and its 200-day moving average price is $2,058.74. First Citizens BancShares, Inc. has a 1 year low of $1,460.76 and a 1 year high of $2,412.93. The firm has a market capitalization of $31.12 billion, a P/E ratio of 11.74, a PEG ratio of 1.00 and a beta of 0.85. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data 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, sell-side analysts forecast that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.95 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.35%. First Citizens BancShares's payout ratio is currently 4.12%.

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.