Nuveen Asset Management LLC Sells 5,644 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Nuveen Asset Management LLC decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 91,314 shares of the bank's stock after selling 5,644 shares during the period. Nuveen Asset Management LLC owned about 0.65% of First Citizens BancShares worth $192,948,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in shares of 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 during the period. JPMorgan Chase & Co. increased its stake 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 acquiring an additional 18,501 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of First Citizens BancShares during the 4th quarter valued at about $39,739,000. Check Capital Management Inc. CA raised its stake in First Citizens BancShares by 20.0% during the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank's stock worth $70,995,000 after acquiring an additional 5,605 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of First Citizens BancShares by 4.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank's stock worth $7,811,000 after buying an additional 157 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Performance

FCNCA traded down $15.79 during midday trading on Monday, hitting $1,937.79. 42,434 shares of the company traded hands, compared to its average volume of 89,259. The company's 50-day moving average is $1,784.78 and its 200 day moving average is $2,009.37. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $25.75 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released 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 firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's payout ratio is currently 4.47%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FCNCA. Truist Financial raised their price target on 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. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, March 11th. Barclays dropped their price target 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 research report on Friday, April 25th. TD Cowen started coverage on shares of First Citizens BancShares in a report on Thursday. They issued a "buy" rating and a $2,400.00 price objective on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on shares of 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, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,336.58.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix acquired 17 shares of the company's stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was a 1.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank B. Holding, Jr. bought 350 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were 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 now owns 2,758 shares of the company's stock, valued at $4,440,380. The trade was a 14.53% increase in their position. 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.