Price T Rowe Associates Inc. MD Sells 848 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Price T Rowe Associates Inc. MD reduced its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,098 shares of the bank's stock after selling 848 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.06% of First Citizens BancShares worth $17,112,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. raised its holdings in shares of First Citizens BancShares by 69.6% in the fourth quarter. Sei Investments Co. now owns 3,031 shares of the bank's stock valued at $6,404,000 after purchasing an additional 1,244 shares during the last quarter. JPMorgan Chase & Co. increased its stake in First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank's stock valued at $531,961,000 after buying an additional 18,501 shares during the last quarter. Raymond James Financial Inc. bought a new stake in First Citizens BancShares during the 4th quarter worth about $39,739,000. Check Capital Management Inc. CA boosted its stake in shares of First Citizens BancShares by 20.0% during the 4th quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank's stock worth $70,995,000 after buying an additional 5,605 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of First Citizens BancShares by 4.5% during the 4th 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 during the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix bought 17 shares of the firm's stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FCNCA. StockNews.com lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Truist Financial boosted their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a report on Wednesday, January 29th. Piper Sandler upgraded shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target for the company in a research note on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,330.82.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,781.47 on Friday. The firm has a market cap of $24.19 billion, a P/E ratio of 9.40, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The business's 50 day moving average is $1,792.06 and its 200-day moving average is $2,018.46. The company has a current ratio of 1.08, a quick 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.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (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 company had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.22 billion. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.44%. First Citizens BancShares's dividend payout ratio is presently 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.

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