BI Asset Management Fondsmaeglerselskab A S Sells 664 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 8.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,086 shares of the bank's stock after selling 664 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.05% of First Citizens BancShares worth $14,973,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FCNCA. Financial Life Planners purchased a new stake in First Citizens BancShares in the fourth quarter valued at $33,000. Hemington Wealth Management increased its stake in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after purchasing an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of First Citizens BancShares in the fourth quarter worth $36,000. Mather Group LLC. grew its holdings in First Citizens BancShares by 38.5% in 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 during the period. Finally, Asset Planning Inc acquired a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Barclays increased their price objective on 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. Keefe, Bruyette & Woods lifted their target price on shares of 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. StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. Finally, The Goldman Sachs Group lowered their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, First Citizens BancShares presently has an average rating of "Moderate Buy" and an average target price of $2,346.09.

First Citizens BancShares Stock Up 2.2 %

FCNCA stock traded up $37.51 during mid-day trading on Wednesday, reaching $1,772.04. The company had a trading volume of 112,774 shares, compared to its average volume of 89,401. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The company has a market capitalization of $24.06 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.94 and a beta of 0.66. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a 50 day simple moving average of $1,831.29 and a two-hundred day simple moving average of $2,026.86.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating 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%. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Craig L. Nix bought 17 shares of the company's stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 13.19% of the stock is currently owned by corporate 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.