National Bank of Canada FI Lowers Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

National Bank of Canada FI reduced its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 70.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,544 shares of the bank's stock after selling 3,650 shares during the quarter. National Bank of Canada FI's holdings in First Citizens BancShares were worth $3,263,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Financial Life Planners purchased a new stake in First Citizens BancShares during the fourth quarter valued at approximately $33,000. Hemington Wealth Management increased its holdings in First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after buying an additional 6 shares during the period. Duncker Streett & Co. Inc. purchased a new position in First Citizens BancShares in the fourth quarter valued at about $36,000. Mather Group LLC. raised 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 worth $38,000 after acquiring an additional 5 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of First Citizens BancShares in the 4th quarter worth $38,000. Institutional investors own 78.01% of the company's stock.

Insider Activity at First Citizens BancShares

In other news, CFO Craig L. Nix purchased 17 shares of the stock in a transaction dated Friday, March 7th. The shares were purchased at an average price 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 $2,146,369.33. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised 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 note on Monday, January 27th. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. UBS Group began coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 price objective for the company. The Goldman Sachs Group reduced 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 report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. raised their price objective on 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. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,288.08.

First Citizens BancShares Price Performance

NASDAQ FCNCA traded up $17.85 during mid-day trading on Friday, hitting $1,657.49. The stock had a trading volume of 95,958 shares, compared to its average volume of 88,839. The firm's 50 day moving average is $1,903.26 and its 200 day moving average is $2,036.31. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $22.50 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93.

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

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $1.95 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.47%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

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.