First Citizens BancShares (NASDAQ:FCNCA) Sets New 52-Week Low - Should You Sell?

First Citizens BancShares, Inc. (NASDAQ:FCNCA - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $1,473.62 and last traded at $1,501.46, with a volume of 71298 shares changing hands. The stock had previously closed at $1,632.06.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FCNCA. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They set a "buy" rating and a $2,600.00 price objective for the company. The Goldman Sachs Group dropped 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 research report on Tuesday, March 18th. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods lifted their price objective on 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. Finally, Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares currently has an average rating of "Moderate Buy" and an average target price of $2,288.08.

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First Citizens BancShares Price Performance

The company's 50-day moving average is $1,942.16 and its 200-day moving average is $2,042.72. The firm has a market capitalization of $21.20 billion, a price-to-earnings ratio of 8.24, 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.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share 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%. On average, research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $1.95 per share. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.50%. First Citizens BancShares's dividend payout ratio is presently 4.12%.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 13.40% of the company's stock.

Institutional Trading of First Citizens BancShares

Large investors have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock worth $32,000 after acquiring an additional 6 shares in the last quarter. Financial Life Planners purchased a new stake in First Citizens BancShares during the 4th quarter worth approximately $33,000. Hemington Wealth Management increased its holdings in First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at approximately $36,000. Finally, Mather Group LLC. boosted its stake in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after buying an additional 5 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

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.