Rhumbline Advisers Sells 438 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Rhumbline Advisers trimmed its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,069 shares of the bank's stock after selling 438 shares during the period. Rhumbline Advisers owned 0.11% of First Citizens BancShares worth $27,940,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCNCA. JPMorgan Chase & Co. raised its stake in First Citizens BancShares by 6.8% in 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. Mather Group LLC. increased its holdings 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 worth $38,000 after acquiring an additional 5 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of First Citizens BancShares by 8.7% during the 4th quarter. Yousif Capital Management LLC now owns 188 shares of the bank's stock worth $397,000 after acquiring an additional 15 shares during the last quarter. Choreo LLC raised its stake in First Citizens BancShares by 4.7% in the 4th quarter. Choreo LLC now owns 221 shares of the bank's stock valued at $467,000 after acquiring an additional 10 shares during the period. Finally, Hedeker Wealth LLC lifted its holdings in First Citizens BancShares by 19.9% during the 4th quarter. Hedeker Wealth LLC now owns 187 shares of the bank's stock valued at $395,000 after purchasing an additional 31 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Price Performance

FCNCA traded down $24.56 during trading on Monday, hitting $1,831.72. 83,866 shares of the stock traded hands, compared to its average volume of 87,731. 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 twelve month low of $1,473.62 and a twelve month high of $2,412.93. The company has a market cap of $24.34 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 0.94 and a beta of 0.64. The business has a 50 day moving average price of $1,786.76 and a 200 day moving average price of $1,977.61.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping the consensus estimate of $37.72 by $0.07. The firm had revenue of $2.30 billion during 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%. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid 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 payout ratio is presently 4.47%.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were bought at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FCNCA shares. Cowen started coverage on shares of First Citizens BancShares in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. The Goldman Sachs Group decreased 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. Wall Street Zen downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. TD Cowen began coverage on First Citizens BancShares in a research report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 target price on the stock. Finally, Barclays lowered their target price on 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. One equities 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.