First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,431 shares of the bank's stock after selling 500 shares during the period. New York State Common Retirement Fund's holdings in First Citizens BancShares were worth $13,589,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Creative Planning boosted its holdings in First Citizens BancShares by 4.5% in the third quarter. Creative Planning now owns 1,138 shares of the bank's stock worth $2,095,000 after acquiring an additional 49 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in First Citizens BancShares by 15.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 348 shares of the bank's stock worth $641,000 after purchasing an additional 46 shares in the last quarter. Assenagon Asset Management S.A. grew its position in First Citizens BancShares by 40.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,544 shares of the bank's stock worth $6,524,000 after purchasing an additional 1,027 shares during the last quarter. Ballentine Partners LLC purchased a new stake in First Citizens BancShares during the 3rd quarter worth approximately $245,000. Finally, Forsta AP Fonden increased its stake in First Citizens BancShares by 14.3% during the 3rd quarter. Forsta AP Fonden now owns 2,400 shares of the bank's stock valued at $4,418,000 after purchasing an additional 300 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Price Performance

FCNCA stock traded up $11.47 during trading on Thursday, hitting $2,035.88. The stock had a trading volume of 52,252 shares, compared to its average volume of 66,265. First Citizens BancShares, Inc. has a twelve month low of $1,505.73 and a twelve month high of $2,412.93. The company's 50-day moving average price is $2,141.41 and its two-hundred day moving average price is $2,072.05. 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 $28.48 billion, a P/E ratio of 10.75, a PEG ratio of 0.94 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (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%. As a group, research analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal 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 paid a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.38%. First Citizens BancShares's dividend payout ratio is presently 4.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FCNCA shares. Keefe, Bruyette & Woods boosted their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Piper Sandler boosted their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, February 1st. Citigroup downgraded First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group increased their price target 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. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,323.50.

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.