Royce & Associates LP Has $23.32 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Royce & Associates LP trimmed its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 54.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,037 shares of the bank's stock after selling 13,388 shares during the quarter. Royce & Associates LP owned about 0.08% of First Citizens BancShares worth $23,321,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FCNCA. FMR LLC raised its holdings in shares of First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank's stock worth $595,607,000 after purchasing an additional 33,713 shares during the period. JPMorgan Chase & Co. grew its stake in First Citizens BancShares by 6.8% during 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 period. Proficio Capital Partners LLC purchased a new position in First Citizens BancShares in the 4th quarter valued at about $147,341,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 valued at $107,749,000 after purchasing an additional 7,613 shares in the last quarter. Finally, Reinhart Partners LLC. boosted its stake in shares of First Citizens BancShares by 2.1% during the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank's stock valued at $122,516,000 after buying an additional 1,183 shares during the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

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First Citizens BancShares Stock Performance

NASDAQ:FCNCA traded down $38.97 during mid-day trading on Thursday, hitting $1,842.96. The stock had a trading volume of 142,798 shares, compared to its average volume of 83,674. First Citizens BancShares, Inc. has a 52 week low of $1,518.00 and a 52 week high of $2,412.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a 50 day simple moving average of $2,061.95 and a 200-day simple moving average of $2,057.59.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings results 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, research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.42%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price 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 in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 13.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FCNCA shares. UBS Group initiated 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 target on the stock. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. JPMorgan Chase & Co. upped their price objective 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. Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a research report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods upped their price target on 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. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares currently has an average 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.