First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stake Lessened by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,438 shares of the bank's stock after selling 289 shares during the quarter. Ameriprise Financial Inc. owned about 0.06% of First Citizens BancShares worth $17,830,000 at the end of the most recent reporting period.

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

First Citizens BancShares Trading Down 0.4%

Shares of First Citizens BancShares stock traded down $8.13 during trading hours on Thursday, hitting $1,833.64. The company's stock had a trading volume of 5,744 shares, compared to its average volume of 88,840. The business has a fifty day moving average of $1,792.69 and a 200 day moving average of $2,007.66. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. 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 company has a market capitalization of $24.37 billion, a PE ratio of 9.68, a P/E/G ratio of 0.94 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $37.72 by $0.07. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.43%. First Citizens BancShares's dividend payout ratio (DPR) is currently 4.47%.

Insider Activity at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of the business's stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares of the company's stock, valued at $2,146,369.33. This represents a 1.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank B. Holding, Jr. bought 350 shares of the stock in a transaction dated Friday, May 2nd. The shares were acquired at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,758 shares of the company's stock, valued at approximately $4,440,380. This represents a 14.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FCNCA shares. The Goldman Sachs Group dropped their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Barclays dropped their price objective on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a research report on Wednesday. They issued a "hold" rating and a $2,050.00 target price on the stock. StockNews.com lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Finally, Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $2,340.33.

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.