Systematic Financial Management LP Trims Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Systematic Financial Management LP reduced its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,097 shares of the bank's stock after selling 6,925 shares during the period. First Citizens BancShares makes up about 1.6% of Systematic Financial Management LP's investment portfolio, making the stock its 4th largest position. Systematic Financial Management LP owned about 0.22% of First Citizens BancShares worth $63,596,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FCNCA. JPMorgan Chase & Co. increased its holdings in First Citizens BancShares by 35.7% in the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank's stock valued at $828,510,000 after buying an additional 103,137 shares during the period. FMR LLC increased its holdings in First Citizens BancShares by 10.5% during the 4th quarter. FMR LLC now owns 357,629 shares of the bank's stock valued at $755,677,000 after purchasing an additional 34,097 shares in the last quarter. Capital International Investors raised its holdings in shares of 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 buying an additional 75,785 shares during the last quarter. Norges Bank acquired a new position in shares of First Citizens BancShares during the fourth quarter worth approximately $298,426,000. Finally, Northern Trust Corp increased its holdings in shares of First Citizens BancShares by 16.9% in 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 currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FCNCA shares. Truist Financial upped their price objective on 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. Cowen started coverage on First Citizens BancShares in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Barclays dropped their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Keefe, Bruyette & Woods increased their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an "outperform" rating in a report on Monday, January 27th. Finally, The Goldman Sachs Group decreased their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, First Citizens BancShares has a consensus rating of "Moderate Buy" and an average target price of $2,340.33.

Insider Transactions at First Citizens BancShares

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

First Citizens BancShares Price Performance

FCNCA stock traded up $1.69 during midday trading on Thursday, reaching $1,843.46. The company had a trading volume of 29,027 shares, compared to its average volume of 85,652. The company has a market capitalization of $24.50 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. 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 1-year low of $1,473.62 and a 1-year high of $2,412.93. The stock has a 50 day moving average price of $1,792.69 and a 200-day moving average price of $2,007.66.

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

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares's dividend payout ratio (DPR) 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.