Prudential PLC Has $511,000 Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Prudential PLC lowered its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 51.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242 shares of the bank's stock after selling 253 shares during the quarter. Prudential PLC's holdings in First Citizens BancShares were worth $511,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of First Citizens BancShares during the 4th quarter worth about $298,426,000. JPMorgan Chase & Co. raised its holdings in First Citizens BancShares by 35.7% in the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock valued at $828,510,000 after acquiring an additional 103,137 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of First Citizens BancShares in the 4th quarter worth approximately $147,341,000. AMF Tjanstepension AB acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $99,818,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of First Citizens BancShares by 128.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank's stock valued at $115,859,000 after purchasing an additional 30,828 shares during the period. Hedge funds and other institutional investors own 78.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup cut shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 17th. UBS Group initiated coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a "buy" rating and a $2,700.00 target price on the stock. Keefe, Bruyette & Woods lifted 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 report on Monday, January 27th. Truist Financial raised their price objective 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. Finally, The Goldman Sachs Group dropped 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. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, First Citizens BancShares has a consensus rating of "Moderate Buy" and a consensus target price of $2,288.08.

First Citizens BancShares Stock Up 0.9 %

FCNCA stock traded up $14.94 during trading hours on Monday, reaching $1,672.43. 9,120 shares of the stock were exchanged, compared to its average volume of 88,633. 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 company has a market cap of $22.71 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The firm's 50-day moving average is $1,903.26 and its 200-day moving average is $2,037.43.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating 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%. On average, equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

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

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 13.40% of the stock is owned by insiders.

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.