Caisse DE Depot ET Placement DU Quebec Decreases Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Caisse DE Depot ET Placement DU Quebec lessened its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 77.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,921 shares of the bank's stock after selling 20,204 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in First Citizens BancShares were worth $12,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCNCA. Barclays PLC boosted its position in First Citizens BancShares by 19.2% during the third quarter. Barclays PLC now owns 7,195 shares of the bank's stock worth $13,246,000 after purchasing an additional 1,158 shares in the last quarter. Tidal Investments LLC grew its stake in First Citizens BancShares by 95.6% in the 3rd quarter. Tidal Investments LLC now owns 1,158 shares of the bank's stock valued at $2,132,000 after acquiring an additional 566 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in First Citizens BancShares in the 3rd quarter worth $203,000. JPMorgan Chase & Co. raised its position 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 acquiring an additional 18,501 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in First Citizens BancShares by 16.1% during the fourth quarter. GAMMA Investing LLC now owns 72 shares of the bank's stock valued at $152,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company's stock.

Insider Buying and Selling at First Citizens BancShares

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

Analyst Upgrades and Downgrades

FCNCA has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a report on Monday, January 27th. The Goldman Sachs Group dropped 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. Piper Sandler upgraded 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 report on Tuesday, March 11th. StockNews.com lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Finally, Truist Financial upped their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,330.82.

First Citizens BancShares Stock Up 0.9 %

Shares of FCNCA traded up $16.65 during midday trading on Wednesday, reaching $1,794.69. The stock had a trading volume of 110,125 shares, compared to its average volume of 89,329. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company's fifty day simple moving average is $1,774.99 and its two-hundred day simple moving average is $2,011.40. The company has a market cap of $24.37 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating the consensus estimate of $37.72 by $0.07. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share 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. Shareholders of record on Friday, May 30th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.43%. First Citizens BancShares's payout ratio is currently 4.47%.

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.