First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Jacobs Asset Management LLC

Jacobs Asset Management LLC decreased its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,000 shares of the bank's stock after selling 250 shares during the period. First Citizens BancShares comprises approximately 7.6% of Jacobs Asset Management LLC's investment portfolio, making the stock its 2nd biggest holding. Jacobs Asset Management LLC's holdings in First Citizens BancShares were worth $12,678,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Sei Investments Co. increased its position in First Citizens BancShares by 69.6% during 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. increased its holdings in shares of 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 acquiring an additional 18,501 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at approximately $39,739,000. Check Capital Management Inc. CA raised its position in shares of First Citizens BancShares by 20.0% in the 4th quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank's stock valued at $70,995,000 after purchasing an additional 5,605 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in First Citizens BancShares by 4.5% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Trading Down 0.7%

First Citizens BancShares stock traded down $12.97 during midday trading on Friday, hitting $1,953.58. 59,210 shares of the stock were exchanged, compared to its average volume of 89,337. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock's 50-day simple moving average is $1,780.28 and its 200 day simple moving average is $2,008.55. 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 stock has a market capitalization of $26.52 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.94 and a beta of 0.64.

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 analysts' consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's payout ratio is 4.47%.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. bought 350 shares of the company's stock in a transaction on Friday, May 2nd. The stock was bought at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the transaction, the chief executive officer now directly owns 2,758 shares in the company, valued at $4,440,380. The trade was a 14.53% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Craig L. Nix purchased 17 shares of the business's stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares of the company's stock, valued at approximately $2,146,369.33. This trade represents a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen initiated coverage on First Citizens BancShares in a research note on Thursday. They issued a "buy" rating and a $2,400.00 price objective for the company. Truist Financial raised their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Barclays dropped 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 report on Friday, April 25th. The Goldman Sachs Group cut their price objective 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. Finally, Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, First Citizens BancShares currently has a consensus rating of "Moderate Buy" and an average price target of $2,336.58.

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.