Tidal Investments LLC Sells 823 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Tidal Investments LLC reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 71.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 335 shares of the bank's stock after selling 823 shares during the period. Tidal Investments LLC's holdings in First Citizens BancShares were worth $708,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FCNCA. Barclays PLC raised its position in First Citizens BancShares by 19.2% during the third quarter. Barclays PLC now owns 7,195 shares of the bank's stock valued at $13,246,000 after purchasing an additional 1,158 shares in the last quarter. JPMorgan Chase & Co. raised 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 purchasing an additional 18,501 shares in the last quarter. Janney Montgomery Scott LLC raised its position in First Citizens BancShares by 0.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,789 shares of the bank's stock valued at $8,006,000 after purchasing an additional 29 shares in the last quarter. Blue Trust Inc. raised its position in First Citizens BancShares by 29.0% during the fourth quarter. Blue Trust Inc. now owns 187 shares of the bank's stock valued at $395,000 after purchasing an additional 42 shares in the last quarter. Finally, Stonegate Investment Group LLC increased its holdings in shares of First Citizens BancShares by 4.5% during the fourth quarter. Stonegate Investment Group LLC now owns 279 shares of the bank's stock worth $590,000 after buying an additional 12 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Craig L. Nix acquired 17 shares of the firm's stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frank B. Holding, Jr. acquired 350 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was purchased at an average price of $1,610.00 per share, with a total value 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 position. The disclosure for this purchase can be found here. 13.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FCNCA has been the subject of several research analyst reports. Cowen initiated coverage on shares of First Citizens BancShares in a report on Wednesday, May 14th. They set a "buy" rating for the company. Barclays lowered their price target on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. TD Cowen initiated coverage on shares of First Citizens BancShares in a report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price target for the company. The Goldman Sachs Group lowered their price target on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Finally, Jefferies Financial Group assumed 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,340.33.

First Citizens BancShares Stock Down 0.3%

Shares of FCNCA stock traded down $5.77 on Friday, reaching $1,838.48. 164,290 shares of the company were exchanged, compared to its average volume of 89,378. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.94 and a beta of 0.64. The company has a 50-day moving average of $1,789.34 and a 200-day moving average of $1,994.20. 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 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 released its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

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

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.