Knightsbridge Asset Management LLC Decreases Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Knightsbridge Asset Management LLC decreased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 57.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,100 shares of the bank's stock after selling 4,146 shares during the period. First Citizens BancShares comprises about 1.5% of Knightsbridge Asset Management LLC's investment portfolio, making the stock its 22nd biggest position. Knightsbridge Asset Management LLC's holdings in First Citizens BancShares were worth $6,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Financial Life Planners bought a new position in shares of First Citizens BancShares during the 4th quarter valued at $33,000. Hemington Wealth Management grew its holdings in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank's stock valued at $33,000 after purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. bought a new position in shares of First Citizens BancShares during the 4th quarter valued at $36,000. Mather Group LLC. boosted its position in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after buying an additional 5 shares during the period. Finally, Asset Planning Inc purchased a new stake in First Citizens BancShares during the 4th quarter valued at $38,000. Institutional investors own 78.01% of the company's stock.

Insiders Place Their Bets

In other news, CFO Craig L. Nix purchased 17 shares of the company's stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares of the company's stock, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.40% of the stock is owned by insiders.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock traded down $35.78 during trading on Wednesday, reaching $1,757.27. 24,162 shares of the stock traded hands, compared to its average volume of 88,664. The company has a market capitalization of $23.86 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 0.94 and a beta of 0.66. The business has a fifty day simple moving average of $1,802.34 and a two-hundred day simple moving average of $2,021.89. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. 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 announced its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 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 firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. Sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's payout ratio is 4.47%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods increased 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 research report on Monday, January 27th. 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 for the company in a research report on Friday, April 25th. StockNews.com cut shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday. Finally, The Goldman Sachs Group dropped 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 report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, First Citizens BancShares has a consensus rating of "Moderate Buy" and an average target price of $2,330.82.

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.