First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Deutsche Bank AG

Deutsche Bank AG trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 12.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,723 shares of the bank's stock after selling 1,915 shares during the period. Deutsche Bank AG owned about 0.10% of First Citizens BancShares worth $25,444,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors raised its stake in First Citizens BancShares by 78.2% in the 4th quarter. Capital International Investors now owns 172,723 shares of the bank's stock valued at $364,967,000 after acquiring an additional 75,785 shares during the period. Egerton Capital UK LLP raised its stake in First Citizens BancShares by 21.7% in the 1st quarter. Egerton Capital UK LLP now owns 124,773 shares of the bank's stock valued at $231,344,000 after acquiring an additional 22,257 shares during the period. GAMMA Investing LLC raised its stake in First Citizens BancShares by 169,861.1% in the 1st quarter. GAMMA Investing LLC now owns 122,372 shares of the bank's stock valued at $226,892,000 after acquiring an additional 122,300 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in First Citizens BancShares by 83.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,523 shares of the bank's stock valued at $227,198,000 after acquiring an additional 48,994 shares during the period. Finally, Northern Trust Corp increased its position in shares of First Citizens BancShares by 16.9% during the fourth quarter. Northern Trust Corp now owns 76,739 shares of the bank's stock valued at $162,151,000 after buying an additional 11,122 shares during the period. 78.01% of the stock is currently owned by institutional investors.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, insider Hope Holding Bryant purchased 409 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the purchase, the insider owned 1,764 shares in the company, valued at $2,875,320. The trade was a 30.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank B. Holding, Jr. acquired 600 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the completion of the acquisition, the chief executive officer owned 32,300 shares of the company's stock, valued at $54,869,625. The trade was a 1.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,494 shares of company stock worth $2,485,986. 13.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FCNCA shares. JPMorgan Chase & Co. boosted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Piper Sandler set a $2,150.00 price objective on First Citizens BancShares and gave the company a "neutral" rating in a research report on Monday, July 28th. Cowen restated a "buy" rating on shares of First Citizens BancShares in a research report on Monday, July 28th. Barclays dropped their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Finally, Citigroup raised their price target on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $2,291.17.

First Citizens BancShares Stock Performance

First Citizens BancShares stock traded down $53.89 during mid-day trading on Friday, reaching $1,871.35. 118,526 shares of the company were exchanged, compared to its average volume of 122,256. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The firm's 50-day simple moving average is $1,972.91 and its two-hundred day simple moving average is $1,911.80. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $24.18 billion, a PE ratio of 11.04 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. Equities analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $1.95 dividend. The ex-dividend date is Friday, August 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.60%.

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.