First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. reduced its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,592 shares of the bank's stock after selling 10,933 shares during the period. Brown Advisory Inc. owned about 0.78% of First Citizens BancShares worth $229,457,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in First Citizens BancShares by 69.6% during the 4th quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock worth $6,404,000 after acquiring an additional 1,244 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after buying an additional 18,501 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in First Citizens BancShares in the fourth quarter valued at $39,739,000. Check Capital Management Inc. CA lifted its holdings in First Citizens BancShares by 20.0% during the 4th quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank's stock worth $70,995,000 after buying an additional 5,605 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of First Citizens BancShares by 4.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank's stock worth $7,811,000 after acquiring an additional 157 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First Citizens BancShares

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price 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. The Goldman Sachs Group lowered their target price on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Keefe, Bruyette & Woods boosted their price target on shares of 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. Truist Financial raised their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Finally, Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,330.82.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA traded down $65.25 during mid-day trading on Tuesday, hitting $1,778.04. 211,358 shares of the company were exchanged, compared to its average volume of 89,246. The stock has a 50 day simple moving average of $1,780.06 and a 200-day simple moving average of $2,012.91. 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 firm has a market cap of $24.14 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results 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 company had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. On average, sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares's payout ratio is 4.47%.

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.