First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,507 shares of the bank's stock after selling 236 shares during the quarter. Rhumbline Advisers owned about 0.11% of First Citizens BancShares worth $32,767,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC lifted its position in First Citizens BancShares by 11.6% in the third quarter. FMR LLC now owns 323,532 shares of the bank's stock worth $595,607,000 after buying an additional 33,713 shares during the last quarter. JPMorgan Chase & Co. lifted its position in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock worth $531,961,000 after buying an additional 18,501 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in First Citizens BancShares by 15.0% in the third 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 buying an additional 7,613 shares during the last quarter. Reinhart Partners LLC. lifted its position in First Citizens BancShares by 2.1% in the fourth 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 during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in First Citizens BancShares by 128.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank's stock worth $115,859,000 after purchasing an additional 30,828 shares during the period. 78.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FCNCA has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods increased their target price 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. Barclays increased their target price on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an "equal weight" rating in a research note on Monday, January 27th. The Goldman Sachs Group increased their target price on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, UBS Group initiated coverage on 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. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $2,323.50.

First Citizens BancShares Stock Down 3.2 %

Shares of First Citizens BancShares stock traded down $67.86 during trading on Friday, hitting $2,049.25. 72,498 shares of the stock traded hands, compared to its average volume of 62,850. First Citizens BancShares, Inc. has a 52-week low of $1,500.94 and a 52-week high of $2,412.93. The stock's fifty day simple moving average is $2,145.78 and its 200 day simple moving average is $2,070.75. The firm has a market cap of $28.67 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

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 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%. On average, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares's payout ratio is currently 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.