Sculptor Capital LP Sells 2,265 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sculptor Capital LP cut its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,733 shares of the bank's stock after selling 2,265 shares during the quarter. First Citizens BancShares comprises about 1.0% of Sculptor Capital LP's investment portfolio, making the stock its 23rd biggest position. Sculptor Capital LP owned 0.26% of First Citizens BancShares worth $75,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in FCNCA. JPMorgan Chase & Co. increased its stake in shares of First Citizens BancShares by 35.7% in the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock worth $828,510,000 after buying an additional 103,137 shares during the last quarter. FMR LLC increased its stake in shares of First Citizens BancShares by 10.5% in the fourth quarter. FMR LLC now owns 357,629 shares of the bank's stock worth $755,677,000 after buying an additional 34,097 shares during the last quarter. Capital International Investors increased its stake in shares of First Citizens BancShares by 78.2% in the fourth quarter. Capital International Investors now owns 172,723 shares of the bank's stock worth $364,967,000 after buying an additional 75,785 shares during the last quarter. Norges Bank bought a new stake in shares of First Citizens BancShares in the fourth quarter worth $298,426,000. Finally, Northern Trust Corp increased its stake in shares of First Citizens BancShares by 16.9% in the fourth quarter. Northern Trust Corp now owns 76,739 shares of the bank's stock worth $162,151,000 after buying an additional 11,122 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on FCNCA shares. TD Cowen began coverage on First Citizens BancShares in a research note on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price target for the company. The Goldman Sachs Group reduced their price objective 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. Cowen assumed coverage on shares of First Citizens BancShares in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a research note on Tuesday, March 11th. Finally, Barclays decreased 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 note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,336.58.

Insiders Place Their Bets

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

First Citizens BancShares Stock Down 1.0%

First Citizens BancShares stock traded down $19.59 during mid-day trading on Tuesday, reaching $1,918.20. The company's stock had a trading volume of 60,390 shares, compared to its average volume of 89,195. The business's 50 day simple moving average is $1,792.01 and its 200 day simple moving average is $2,008.81. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The company has a market capitalization of $25.49 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its 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 company had revenue of $2.30 billion during 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%. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares's dividend payout ratio (DPR) is 4.47%.

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.