First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,034,843 shares of the bank's stock after selling 28,935 shares during the period. Vanguard Group Inc. owned about 7.40% of First Citizens BancShares worth $2,186,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 worth $86,812,000 after buying an additional 1,339 shares in the last quarter. Cerity Partners LLC raised its position in First Citizens BancShares by 34.0% in the third quarter. Cerity Partners LLC now owns 1,290 shares of the bank's stock valued at $2,375,000 after purchasing an additional 327 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of First Citizens BancShares by 9.2% in the 3rd quarter. Summit Trail Advisors LLC now owns 202 shares of the bank's stock valued at $373,000 after purchasing an additional 17 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of First Citizens BancShares by 8.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,227 shares of the bank's stock worth $4,099,000 after purchasing an additional 170 shares during the period. Finally, Private Trust Co. NA increased its position in shares of First Citizens BancShares by 2,100.0% during the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank's stock worth $162,000 after purchasing an additional 84 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

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First Citizens BancShares Price Performance

NASDAQ:FCNCA traded down $19.84 during mid-day trading on Monday, hitting $1,815.26. 12,542 shares of the company's stock traded hands, compared to its average volume of 85,770. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 1 year low of $1,518.00 and a 1 year high of $2,412.93. The company has a market cap of $24.65 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. The firm's 50 day simple moving average is $2,025.58 and its 200 day simple moving average is $2,055.55.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.12%.

Insider Activity

In related news, CFO Craig L. Nix purchased 17 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was 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 in the company, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FCNCA shares. UBS Group began coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 target price on the stock. Citigroup cut shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Truist Financial upped their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a "buy" rating and a $2,600.00 price target on the stock. Finally, StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. Six equities research 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, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and an average price target of $2,288.08.

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.