Sculptor Capital LP Cuts Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sculptor Capital LP trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,733 shares of the bank's stock after selling 2,265 shares during the quarter. First Citizens BancShares accounts for 1.0% of Sculptor Capital LP's holdings, making the stock its 23rd biggest position. Sculptor Capital LP owned approximately 0.26% of First Citizens BancShares worth $75,505,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in First Citizens BancShares by 35.7% during the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock valued at $828,510,000 after purchasing an additional 103,137 shares during the last quarter. FMR LLC grew its position in First Citizens BancShares by 10.5% in the fourth quarter. FMR LLC now owns 357,629 shares of the bank's stock valued at $755,677,000 after acquiring an additional 34,097 shares during the last quarter. Capital International Investors grew its position in First Citizens BancShares by 78.2% in the fourth quarter. Capital International Investors now owns 172,723 shares of the bank's stock valued at $364,967,000 after acquiring an additional 75,785 shares during the last quarter. Norges Bank bought a new position in First Citizens BancShares in the fourth quarter valued at about $298,426,000. Finally, Northern Trust Corp boosted its stake in shares of First Citizens BancShares by 16.9% during the fourth quarter. Northern Trust Corp now owns 76,739 shares of the bank's stock valued at $162,151,000 after purchasing an additional 11,122 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

Insider Transactions at First Citizens BancShares

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

First Citizens BancShares Stock Performance

FCNCA stock traded down $1.64 during midday trading on Thursday, hitting $1,840.14. The company's stock had a trading volume of 24,270 shares, compared to its average volume of 88,919. The stock's 50-day moving average price is $1,792.69 and its 200 day moving average price is $2,007.66. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The stock has a market cap of $24.45 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.94 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.22 billion. On average, equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $1.95 per share. 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%.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. The Goldman Sachs Group dropped their price target on 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. TD Cowen started 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 on the stock. Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a research note on Monday, January 27th. Finally, Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,340.33.

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.