First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Holdings Lowered by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,314 shares of the bank's stock after selling 5,644 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.65% of First Citizens BancShares worth $192,948,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FCNCA. Barclays PLC lifted its position in First Citizens BancShares by 19.2% during the 3rd quarter. Barclays PLC now owns 7,195 shares of the bank's stock worth $13,246,000 after acquiring an additional 1,158 shares during the period. JPMorgan Chase & Co. raised its stake 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 worth $531,961,000 after purchasing an additional 18,501 shares during the last quarter. Wedmont Private Capital acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth $219,000. SeaCrest Wealth Management LLC grew its position in First Citizens BancShares by 20.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 214 shares of the bank's stock valued at $453,000 after buying an additional 37 shares during the last quarter. Finally, Park Avenue Securities LLC increased its stake in First Citizens BancShares by 25.1% in the 4th quarter. Park Avenue Securities LLC now owns 494 shares of the bank's stock valued at $1,044,000 after buying an additional 99 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCNCA has been the subject of several analyst reports. TD Cowen initiated 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 objective for the company. Truist Financial upped their target price 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 decreased 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 note on Friday, April 25th. Cowen assumed coverage on First Citizens BancShares in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,340.33.

First Citizens BancShares Stock Down 2.2%

Shares of NASDAQ:FCNCA traded down $42.58 during midday trading on Wednesday, reaching $1,875.63. The company had a trading volume of 12,318 shares, compared to its average volume of 88,893. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $24.93 billion, a P/E ratio of 9.90, a PEG ratio of 0.94 and a beta of 0.64. The stock's fifty day moving average price is $1,792.01 and its 200-day moving average price is $2,008.81.

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

First Citizens BancShares Announces Dividend

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

Insider Activity

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the acquisition, the chief financial officer now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 cost of $1,610.00 per share, with a total value of $563,500.00. Following the acquisition, the chief executive officer now directly owns 2,758 shares of the company's stock, valued at approximately $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 13.40% of the company's stock.

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.