Inspire Investing LLC Sells 750 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Inspire Investing LLC lessened its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 30.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,741 shares of the bank's stock after selling 750 shares during the quarter. Inspire Investing LLC's holdings in First Citizens BancShares were worth $3,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in First Citizens BancShares by 0.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,789 shares of the bank's stock worth $8,006,000 after purchasing an additional 29 shares during the period. Solidarity Wealth LLC bought a new position in shares of First Citizens BancShares during the 4th quarter worth approximately $1,690,000. Jackson Square Capital LLC acquired a new stake in First Citizens BancShares in the 4th quarter valued at $999,000. Ameritas Advisory Services LLC bought a new stake in First Citizens BancShares in the fourth quarter valued at $427,000. Finally, Brooklyn Investment Group grew its position in First Citizens BancShares by 33.3% in the fourth quarter. Brooklyn Investment Group now owns 28 shares of the bank's stock valued at $57,000 after acquiring an additional 7 shares during the period. 78.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of research analyst reports. StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Thursday, January 16th. UBS Group started coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 target price for the company. JPMorgan Chase & Co. upped their price target 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. The Goldman Sachs Group raised their price objective on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Finally, Barclays upped their target price on shares of First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,290.75.

First Citizens BancShares Stock Down 0.1 %

Shares of FCNCA stock traded down $1.62 during trading hours on Thursday, hitting $2,216.49. 107,184 shares of the company were exchanged, compared to its average volume of 69,335. First Citizens BancShares, Inc. has a 52 week low of $1,383.00 and a 52 week high of $2,388.78. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The business has a 50 day moving average of $2,169.63 and a two-hundred day moving average of $2,028.74. The company has a market capitalization of $31.01 billion, a PE ratio of 12.70, a PEG ratio of 1.03 and a beta of 0.86.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $47.40 by ($1.53). The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same period in the prior year, the business posted $55.92 EPS. Analysts anticipate that First Citizens BancShares, Inc. will post 187.95 earnings per share for the current fiscal year.

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.