Tobam Reduces Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Tobam reduced its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 22.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,453 shares of the bank's stock after selling 2,775 shares during the period. Tobam owned approximately 0.07% of First Citizens BancShares worth $13,414,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its position in First Citizens BancShares by 100.0% during the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank's stock valued at $27,000 after purchasing an additional 10 shares in the last quarter. Lindbrook Capital LLC raised its position in First Citizens BancShares by 53.3% during the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank's stock valued at $32,000 after purchasing an additional 8 shares in the last quarter. Castleview Partners LLC acquired a new position in First Citizens BancShares during the second quarter valued at approximately $31,000. Resurgent Financial Advisors LLC acquired a new position in First Citizens BancShares during the fourth quarter valued at approximately $35,000. Finally, Fred Alger Management LLC acquired a new position in First Citizens BancShares during the fourth quarter valued at approximately $39,000. 61.18% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Down 1.6 %

Shares of FCNCA stock traded down $26.59 on Tuesday, reaching $1,605.66. 72,249 shares of the company were exchanged, compared to its average volume of 82,768. The company has a market cap of $23.31 billion, a price-to-earnings ratio of 2.05 and a beta of 0.89. The company has a 50-day moving average of $1,553.81 and a 200-day moving average of $1,458.22. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14. First Citizens BancShares, Inc. has a one year low of $945.32 and a one year high of $1,651.73.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analysts anticipate that First Citizens BancShares, Inc. will post 177.52 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $1.64 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 annualized dividend and a yield of 0.41%. First Citizens BancShares's payout ratio is 0.84%.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 622 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the purchase, the chief executive officer now owns 97,609 shares in the company, valued at approximately $128,355,835. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Hope Holding Bryant purchased 300 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was bought at an average price of $1,315.00 per share, for a total transaction of $394,500.00. Following the purchase, the insider now directly owns 1,978 shares in the company, valued at approximately $2,601,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frank B. Holding, Jr. purchased 622 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were bought at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the purchase, the chief executive officer now owns 97,609 shares in the company, valued at $128,355,835. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,388 shares of company stock worth $1,825,220. Insiders own 12.85% of the company's stock.

Analyst Ratings Changes

FCNCA has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They set a "buy" rating and a $1,950.00 price target for the company. UBS Group upped their price target on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a "buy" rating in a report on Tuesday, January 30th. DA Davidson reiterated a "neutral" rating on shares of First Citizens BancShares in a report on Monday, January 15th. Wedbush reiterated an "outperform" rating and set a $1,800.00 price target on shares of First Citizens BancShares in a report on Monday, January 29th. Finally, StockNews.com downgraded shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $1,774.83.

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.