Mn Services Vermogensbeheer B.V. Sells 300 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mn Services Vermogensbeheer B.V. trimmed its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,700 shares of the bank's stock after selling 300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in First Citizens BancShares were worth $6,860,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average price 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 in the company, valued at $4,440,380. The trade was a 14.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.40% of the stock is owned by company insiders.

First Citizens BancShares Stock Up 2.0%

Shares of FCNCA stock traded up $36.81 on Wednesday, reaching $1,845.31. 77,260 shares of the company were exchanged, compared to its average volume of 88,185. The company has a market cap of $24.52 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.84 and a beta of 0.64. The company has a 50-day moving average of $1,815.35 and a 200-day moving average of $1,955.59. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.04 and a quick ratio of 1.04. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one 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 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, May 30th. First Citizens BancShares's dividend payout ratio is currently 4.47%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Cowen assumed coverage on First Citizens BancShares in a report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 target price on the stock. Jefferies Financial Group began 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 objective on the stock. Barclays reduced their price objective on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group cut 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 report on Tuesday, March 18th. Finally, 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. 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 currently has a consensus rating of "Moderate Buy" and an average price target of $2,340.33.

First Citizens BancShares 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.