BI Asset Management Fondsmaeglerselskab A S Has $14.97 Million Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,086 shares of the bank's stock after selling 664 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.05% of First Citizens BancShares worth $14,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FCNCA. First Trust Advisors LP boosted its stake in First Citizens BancShares by 25.4% in the 4th quarter. First Trust Advisors LP now owns 22,785 shares of the bank's stock worth $48,145,000 after purchasing an additional 4,622 shares during the period. Freedom Investment Management Inc. grew its stake in First Citizens BancShares by 12.0% during the 4th quarter. Freedom Investment Management Inc. now owns 168 shares of the bank's stock valued at $355,000 after acquiring an additional 18 shares in the last quarter. GeoWealth Management LLC increased its holdings in shares of First Citizens BancShares by 57.7% in the 4th quarter. GeoWealth Management LLC now owns 123 shares of the bank's stock valued at $260,000 after purchasing an additional 45 shares during the period. Commerce Bank lifted its position in shares of First Citizens BancShares by 4.0% in the fourth quarter. Commerce Bank now owns 22,194 shares of the bank's stock worth $46,896,000 after purchasing an additional 849 shares in the last quarter. Finally, Capital International Investors boosted its holdings in shares of First Citizens BancShares by 78.2% during the fourth quarter. Capital International Investors now owns 172,723 shares of the bank's stock worth $364,967,000 after purchasing an additional 75,785 shares during the period. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FCNCA. The Goldman Sachs Group decreased their target price on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Truist Financial lifted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. StockNews.com upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. JPMorgan Chase & Co. boosted their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $2,330.82.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares of the company's stock, valued at $2,146,369.33. This represents a 1.51 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 13.19% of the stock is owned by corporate insiders.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA traded down $16.51 during midday trading on Friday, hitting $1,774.15. The company's stock had a trading volume of 39,135 shares, compared to its average volume of 89,440. 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 company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $24.09 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.94 and a beta of 0.66. The stock's 50 day simple moving average is $1,824.27 and its 200 day simple moving average is $2,025.79.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.22 billion. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 0.44%. First Citizens BancShares's dividend payout ratio is currently 4.12%.

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.