Royce & Associates LP Sells 731 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Royce & Associates LP cut its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,306 shares of the bank's stock after selling 731 shares during the period. Royce & Associates LP owned about 0.08% of First Citizens BancShares worth $19,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FCNCA. American Century Companies Inc. lifted its holdings in First Citizens BancShares by 16.4% in the 4th quarter. American Century Companies Inc. now owns 13,005 shares of the bank's stock valued at $27,480,000 after purchasing an additional 1,829 shares in the last quarter. Sei Investments Co. lifted its stake in First Citizens BancShares by 69.6% during the fourth quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock worth $6,404,000 after purchasing an additional 1,244 shares during the last quarter. LPL Financial LLC increased its position in shares of First Citizens BancShares by 53.0% during the fourth quarter. LPL Financial LLC now owns 3,633 shares of the bank's stock worth $7,676,000 after purchasing an additional 1,258 shares in the last quarter. Korea Investment CORP lifted its position in First Citizens BancShares by 127.8% during the 4th quarter. Korea Investment CORP now owns 4,672 shares of the bank's stock worth $9,872,000 after acquiring an additional 2,621 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of First Citizens BancShares by 9.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,431 shares of the bank's stock valued at $15,981,000 after buying an additional 666 shares during the period. Hedge funds and other institutional investors own 78.01% of the company's stock.

Insiders Place Their Bets

In related news, CEO Frank B. Holding, Jr. acquired 350 shares of First Citizens BancShares stock in a transaction that occurred on Friday, May 2nd. The stock was bought 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 directly owned 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 legal filing with the SEC, which can be accessed through the SEC website. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares Trading Down 0.8%

Shares of FCNCA traded down $17.79 during mid-day trading on Friday, reaching $2,096.04. 97,295 shares of the company were exchanged, compared to its average volume of 76,223. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.04 and a current ratio of 1.04. The business has a 50 day simple moving average of $1,950.28 and a two-hundred day simple moving average of $1,939.67. The stock has a market capitalization of $27.86 billion, a PE ratio of 12.00, a PEG ratio of 0.97 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating the consensus estimate of $37.72 by $0.07. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. On average, analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several research reports. 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. JPMorgan Chase & Co. lifted their target price on 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. TD Cowen assumed coverage on shares of First Citizens BancShares in a research report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price target for the company. UBS Group restated a "buy" rating and set a $2,410.00 price target on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Finally, Jefferies Financial Group began coverage on First Citizens BancShares in a report on Wednesday, May 21st. They issued a "hold" rating and a $2,050.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $2,299.50.

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.