First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 72.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 555 shares of the bank's stock after selling 1,425 shares during the period. Prudential Financial Inc.'s holdings in First Citizens BancShares were worth $1,173,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Financial Life Planners acquired a new stake in shares of First Citizens BancShares during the fourth quarter valued at $33,000. Hemington Wealth Management lifted its holdings in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after purchasing an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth about $36,000. Mather Group LLC. grew its holdings in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after buying an additional 5 shares in the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

Insiders Place Their Bets

In other news, CFO Craig L. Nix bought 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.40% of the stock is currently owned by insiders.

First Citizens BancShares Trading Up 1.1 %

FCNCA traded up $17.85 on Friday, reaching $1,657.49. 95,958 shares of the company's stock were exchanged, compared to its average volume of 88,839. The company has a market cap of $22.50 billion, a price-to-earnings ratio of 8.75, 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. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The company's 50 day moving average is $1,903.26 and its 200-day moving average is $2,036.31.

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

First Citizens BancShares Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FCNCA. 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 research report on Tuesday, March 11th. Truist Financial raised their price objective on 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. Keefe, Bruyette & Woods upped their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Finally, UBS Group began coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 price target for the company. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,288.08.

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.