First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,213 shares of the bank's stock after selling 139 shares during the quarter. Public Employees Retirement System of Ohio's holdings in First Citizens BancShares were worth $8,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Financial Life Planners purchased a new stake in First Citizens BancShares in the 4th quarter worth approximately $33,000. Hemington Wealth Management boosted its position in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after purchasing an additional 6 shares during the period. Duncker Streett & Co. Inc. purchased a new stake in shares of First Citizens BancShares in the fourth quarter worth $36,000. Mather Group LLC. raised its position in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after purchasing an additional 5 shares during the period. Finally, Asset Planning Inc purchased a new position in shares of First Citizens BancShares during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on FCNCA shares. TD Cowen assumed coverage on First Citizens BancShares in a report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price target on the stock. The Goldman Sachs Group decreased their target price on 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. Barclays dropped their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, March 11th. Finally, Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a research report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,340.33.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA traded down $5.77 during mid-day trading on Friday, hitting $1,838.48. 164,290 shares of the company's stock traded hands, compared to its average volume of 88,076. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The company's 50-day moving average is $1,789.34 and its two-hundred day moving average is $1,993.03. The company has a market capitalization of $24.43 billion, a P/E ratio of 9.71, a PEG ratio of 0.94 and a beta of 0.64.

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

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued 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 is Friday, May 30th. First Citizens BancShares's payout ratio is 4.47%.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the business's stock in a transaction 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 completion of the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank B. Holding, Jr. purchased 350 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was acquired at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the purchase, the chief executive officer now owns 2,758 shares in the company, valued at approximately $4,440,380. The trade was a 14.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 13.19% of the company's stock.

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.