National Pension Service Sells 1,814 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

National Pension Service decreased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,326 shares of the bank's stock after selling 1,814 shares during the period. National Pension Service owned 0.12% of First Citizens BancShares worth $36,610,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in First Citizens BancShares by 11.6% during the third 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. increased its holdings in shares of First Citizens BancShares by 6.8% in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Citizens BancShares by 15.0% in 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 valued at $107,749,000 after buying an additional 7,613 shares in the last quarter. Reinhart Partners LLC. lifted its position in shares of First Citizens BancShares by 2.1% during the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank's stock valued at $122,516,000 after acquiring an additional 1,183 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of First Citizens BancShares by 128.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank's stock worth $115,859,000 after acquiring an additional 30,828 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. 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 report on Monday, January 27th. UBS Group began coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a "buy" rating and a $2,700.00 price objective on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a "buy" rating and a $2,600.00 target price for the company. Finally, Citigroup cut First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,323.50.

First Citizens BancShares Stock Down 0.5 %

Shares of FCNCA traded down $10.15 during midday trading on Monday, reaching $2,037.91. 7,216 shares of the stock were exchanged, compared to its average volume of 64,809. The company has a market cap of $28.51 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 0.94 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, Inc. has a 12-month low of $1,505.73 and a 12-month high of $2,412.93. The firm has a 50 day simple moving average of $2,139.06 and a 200-day simple moving average of $2,072.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued 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 net margin of 18.55% and a return on equity of 13.22%. Research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Friday, February 28th. First Citizens BancShares's dividend payout ratio is presently 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.