ArrowMark Colorado Holdings LLC Lowers Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

ArrowMark Colorado Holdings LLC trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,760 shares of the bank's stock after selling 735 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.08% of First Citizens BancShares worth $22,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FCNCA. Financial Life Planners purchased a new position in First Citizens BancShares in the fourth quarter worth $33,000. Hemington Wealth Management boosted its holdings in shares of 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 purchasing an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. bought a new position in shares of First Citizens BancShares during the 4th quarter valued at about $36,000. Mather Group LLC. lifted its position in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after buying an additional 5 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in First Citizens BancShares in the fourth quarter worth approximately $38,000. 78.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 13.40% of the company's stock.

First Citizens BancShares Stock Up 2.8 %

Shares of First Citizens BancShares stock opened at $1,831.32 on Friday. The company's fifty day simple moving average is $1,788.84 and its two-hundred day simple moving average is $2,017.11. The company has a market cap of $24.86 billion, a P/E ratio of 9.67, a PEG ratio of 0.94 and a beta of 0.64. 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, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.22 billion. Research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Barclays lowered 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 report on Friday, April 25th. StockNews.com lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. The Goldman Sachs Group decreased their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Keefe, Bruyette & Woods increased their target price on 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. Finally, JPMorgan Chase & Co. lifted their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $2,330.82.

First Citizens BancShares Company 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.

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