First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 83.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208 shares of the bank's stock after selling 1,087 shares during the quarter. Assenagon Asset Management S.A.'s holdings in First Citizens BancShares were worth $386,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Duncker Streett & Co. Inc. purchased a new stake in First Citizens BancShares during the fourth quarter worth about $36,000. MassMutual Private Wealth & Trust FSB increased its stake in First Citizens BancShares by 54.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock worth $32,000 after purchasing an additional 6 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $40,000. Johnson Financial Group Inc. purchased a new stake in shares of First Citizens BancShares during the fourth quarter worth approximately $77,000. Finally, Toth Financial Advisory Corp increased its stake in shares of First Citizens BancShares by 263.6% during the first quarter. Toth Financial Advisory Corp now owns 40 shares of the bank's stock worth $74,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Stock Up 2.0%

Shares of NASDAQ:FCNCA opened at $1,845.31 on Friday. The stock's 50-day moving average price is $1,819.46 and its two-hundred day moving average price is $1,952.98. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.77. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The firm has a market cap of $24.52 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.86 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, beating the consensus estimate of $37.72 by $0.07. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. On average, research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, May 30th. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. purchased 350 shares of First Citizens BancShares stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the transaction, the chief executive officer now owns 2,758 shares of the company's stock, valued at approximately $4,440,380. The trade was a 14.53% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 13.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cowen assumed coverage on shares of First Citizens BancShares in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a research note on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 price target on the stock. Wall Street Zen lowered shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. 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, 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 note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and an average price target of $2,340.33.

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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