Norges Bank Purchases Shares of 141,232 First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Norges Bank bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 141,232 shares of the bank's stock, valued at approximately $298,426,000. Norges Bank owned approximately 1.01% of First Citizens BancShares at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of FCNCA. JPMorgan Chase & Co. raised its stake in shares of First Citizens BancShares by 35.7% in the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock worth $828,510,000 after acquiring an additional 103,137 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $147,341,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in First Citizens BancShares by 15.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank's stock worth $107,749,000 after purchasing an additional 7,613 shares during the last quarter. Reinhart Partners LLC. lifted its holdings in First Citizens BancShares by 2.1% during the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank's stock worth $122,516,000 after buying an additional 1,183 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in First Citizens BancShares by 128.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank's stock worth $115,859,000 after buying an additional 30,828 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price 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, January 27th. 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 on the stock. Truist Financial lifted their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Finally, Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and an average price target of $2,288.08.

Insiders Place Their Bets

In other First Citizens BancShares news, CFO Craig L. Nix acquired 17 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the acquisition, the chief financial officer now directly owns 1,141 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.19% of the company's stock.

First Citizens BancShares Trading Down 9.9 %

NASDAQ:FCNCA traded down $183.62 on Thursday, reaching $1,675.96. The company's stock had a trading volume of 28,922 shares, compared to its average volume of 77,614. The firm has a market cap of $22.75 billion, a PE ratio of 8.85, a PEG ratio of 0.94 and a beta of 0.66. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The business's 50-day moving average price is $2,003.56 and its two-hundred day moving average price is $2,054.31. First Citizens BancShares, Inc. has a 1-year low of $1,517.99 and a 1-year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping the consensus estimate 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 anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

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.