KBC Group NV Sells 13,088 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

KBC Group NV lessened its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 72.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,028 shares of the bank's stock after selling 13,088 shares during the period. KBC Group NV's holdings in First Citizens BancShares were worth $10,624,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Raymond James & Associates lifted its holdings in First Citizens BancShares by 5.1% during the third quarter. Raymond James & Associates now owns 16,826 shares of the bank's stock worth $30,976,000 after acquiring an additional 811 shares in the last quarter. Balentine LLC bought a new stake in shares of First Citizens BancShares in the third quarter worth $3,564,000. Hiddenite Capital Partners LP grew its holdings in shares of First Citizens BancShares by 14.1% in the 3rd quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank's stock valued at $5,946,000 after acquiring an additional 400 shares in the last quarter. Retireful LLC bought a new stake in First Citizens BancShares during the third quarter worth about $801,000. Finally, Oliver Luxxe Assets LLC raised its stake in shares of First Citizens BancShares by 22.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank's stock worth $5,368,000 after purchasing an additional 537 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed 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 objective for the company. StockNews.com cut First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Friday, January 24th. Piper Sandler increased their target price 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. JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $2,323.50.

First Citizens BancShares Trading Up 0.7 %

Shares of FCNCA stock traded up $15.06 during trading hours on Thursday, reaching $2,215.00. The company's stock had a trading volume of 26,810 shares, compared to its average volume of 76,257. The firm's fifty day simple moving average is $2,169.22 and its 200 day simple moving average is $2,045.22. First Citizens BancShares, Inc. has a one year low of $1,438.08 and a one year high of $2,412.93. The stock has a market capitalization of $30.99 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.03 and a beta of 0.86. 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 (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. Equities research analysts expect that First Citizens BancShares, Inc. will post 187.95 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.35%. First Citizens BancShares's payout ratio is 4.47%.

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.