Mackenzie Financial Corp Has $683,000 Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mackenzie Financial Corp cut its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 51.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 323 shares of the bank's stock after selling 347 shares during the period. Mackenzie Financial Corp's holdings in First Citizens BancShares were worth $683,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FCNCA. Sei Investments Co. raised its position in shares of First Citizens BancShares by 69.6% in the 4th quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock valued at $6,404,000 after buying an additional 1,244 shares in the last quarter. JPMorgan Chase & Co. grew 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 valued at $531,961,000 after buying an additional 18,501 shares during the period. Raymond James Financial Inc. bought a new position in First Citizens BancShares during the fourth quarter valued at about $39,739,000. Check Capital Management Inc. CA boosted its position in First Citizens BancShares by 20.0% during the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank's stock worth $70,995,000 after purchasing an additional 5,605 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in First Citizens BancShares by 4.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank's stock worth $7,811,000 after purchasing an additional 157 shares during the period. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock traded down $14.40 during trading on Thursday, hitting $1,814.09. 53,348 shares of the company were exchanged, compared to its average volume of 88,003. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 0.94 and a beta of 0.64. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The firm has a 50 day moving average price of $1,786.10 and a 200 day moving average price of $1,984.38.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $37.72 by $0.07. The firm had revenue of $2.30 billion for the quarter, compared to analysts' expectations 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 expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $1.95 per share. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.43%. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.47%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FCNCA. TD Cowen started coverage on shares of First Citizens BancShares in a research note on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price target for the company. Wall Street Zen cut shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Cowen assumed coverage on First Citizens BancShares in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Jefferies Financial Group assumed coverage on First Citizens BancShares in a research note on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price objective for the company. Finally, Piper Sandler upgraded First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target for the company in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,340.33.

Insider Activity

In related news, CEO Frank B. Holding, Jr. bought 350 shares of First Citizens BancShares stock in a transaction that occurred on Friday, May 2nd. The stock was acquired at an average price 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 in the company, valued at approximately $4,440,380. This represents a 14.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Craig L. Nix bought 17 shares of the business's stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now directly owns 1,141 shares of the company's stock, 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. Corporate insiders own 13.40% of the company's stock.

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.