Treasurer of the State of North Carolina Has $13.03 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Treasurer of the State of North Carolina cut its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,166 shares of the bank's stock after selling 253 shares during the period. Treasurer of the State of North Carolina's holdings in First Citizens BancShares were worth $13,029,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FCNCA. Norges Bank acquired a new position in First Citizens BancShares in the 4th quarter worth approximately $298,426,000. JPMorgan Chase & Co. lifted its holdings 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 valued at $828,510,000 after purchasing an additional 103,137 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of First Citizens BancShares in the fourth quarter worth $147,341,000. AMF Tjanstepension AB purchased a new position in shares of First Citizens BancShares during the fourth quarter valued at $99,818,000. Finally, FMR LLC raised its position in First Citizens BancShares by 10.5% during the fourth quarter. FMR LLC now owns 357,629 shares of the bank's stock valued at $755,677,000 after buying an additional 34,097 shares during the period. 78.01% of the stock is currently owned by institutional investors.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix bought 17 shares of the company's stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 13.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on FCNCA shares. Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price objective on shares of 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. Barclays lifted their target price on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an "equal weight" rating in a research note on Monday, January 27th. The Goldman Sachs Group dropped their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Finally, StockNews.com raised First Citizens BancShares from a "sell" rating to a "hold" rating in a research report on Saturday, February 1st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $2,346.09.

First Citizens BancShares Stock Performance

FCNCA traded up $24.86 during trading on Friday, reaching $1,716.62. 59,744 shares of the company's stock were exchanged, compared to its average volume of 89,023. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The company has a market capitalization of $23.31 billion, a P/E ratio of 9.06, a PEG ratio of 0.94 and a beta of 0.66. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The business has a 50 day moving average price of $1,863.73 and a 200 day moving average price of $2,030.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

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.