Systematic Financial Management LP Sells 6,925 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Systematic Financial Management LP trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,097 shares of the bank's stock after selling 6,925 shares during the quarter. First Citizens BancShares accounts for about 1.6% of Systematic Financial Management LP's investment portfolio, making the stock its 4th biggest position. Systematic Financial Management LP owned approximately 0.22% of First Citizens BancShares worth $63,596,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Snowden Capital Advisors LLC boosted its stake in First Citizens BancShares by 7.1% during the 4th quarter. Snowden Capital Advisors LLC now owns 241 shares of the bank's stock valued at $509,000 after purchasing an additional 16 shares during the period. Siemens Fonds Invest GmbH bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $49,265,000. Quantinno Capital Management LP boosted its position in shares of First Citizens BancShares by 60.3% during the fourth quarter. Quantinno Capital Management LP now owns 508 shares of the bank's stock worth $1,074,000 after buying an additional 191 shares during the period. OMERS ADMINISTRATION Corp grew its holdings in First Citizens BancShares by 19.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 422 shares of the bank's stock worth $892,000 after buying an additional 70 shares in the last quarter. Finally, Laurion Capital Management LP increased its position in First Citizens BancShares by 0.9% in the 4th quarter. Laurion Capital Management LP now owns 986 shares of the bank's stock valued at $2,083,000 after acquiring an additional 9 shares during the period. Institutional investors and hedge funds own 78.01% of the company's stock.

Insider Activity

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the 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 completion of the transaction, the chief financial officer now directly owns 1,141 shares of the company's stock, valued at $2,146,369.33. This represents a 1.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank B. Holding, Jr. acquired 350 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was bought at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,758 shares in the company, valued at $4,440,380. This represents a 14.53% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 13.40% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of 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. Keefe, Bruyette & Woods upped their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Cowen began coverage on First Citizens BancShares in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. StockNews.com lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Finally, Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price for the company in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, First Citizens BancShares presently has an average rating of "Moderate Buy" and an average price target of $2,336.58.

First Citizens BancShares Trading Down 1.0%

NASDAQ FCNCA traded down $19.59 on Tuesday, hitting $1,918.20. 60,390 shares of the company were exchanged, compared to its average volume of 89,195. 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 twelve month low of $1,473.62 and a twelve month high of $2,412.93. The firm has a market capitalization of $25.49 billion, a P/E ratio of 10.13, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The company's 50 day moving average price is $1,792.01 and its 200-day moving average price is $2,008.81.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly 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. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

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