Capital Research Global Investors Has $1.32 Billion Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Capital Research Global Investors reduced its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 624,813 shares of the bank's stock after selling 41,455 shares during the period. Capital Research Global Investors owned about 4.47% of First Citizens BancShares worth $1,320,242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FCNCA. JPMorgan Chase & Co. boosted its stake in shares of First Citizens BancShares by 35.7% in the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock valued at $828,510,000 after purchasing an additional 103,137 shares in the last quarter. FMR LLC lifted its holdings in First Citizens BancShares by 10.5% during the 4th quarter. FMR LLC now owns 357,629 shares of the bank's stock valued at $755,677,000 after purchasing an additional 34,097 shares during the last quarter. Capital International Investors boosted its position in First Citizens BancShares by 78.2% in the fourth quarter. Capital International Investors now owns 172,723 shares of the bank's stock valued at $364,967,000 after buying an additional 75,785 shares in the last quarter. Norges Bank bought a new stake in First Citizens BancShares during the fourth quarter worth about $298,426,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $147,341,000. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Trading Up 1.5 %

Shares of NASDAQ:FCNCA traded up $25.81 during midday trading on Thursday, hitting $1,797.85. The company had a trading volume of 82,087 shares, compared to its average volume of 89,414. 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, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The firm has a fifty day simple moving average of $1,831.29 and a 200 day simple moving average of $2,026.86. The stock has a market cap of $24.41 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $38.10 by ($0.31). First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, analysts predict 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. Shareholders of record on Friday, May 30th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.43%. First Citizens BancShares's payout ratio is presently 4.12%.

Insiders Place Their Bets

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 acquisition, the chief financial officer now owns 1,141 shares of the company's stock, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 13.19% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. The Goldman Sachs Group cut their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Barclays increased their price objective 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. Finally, Piper Sandler raised 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 research note on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2,346.09.

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.