Commonwealth Equity Services LLC Sells 42 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Commonwealth Equity Services LLC reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 686 shares of the bank’s stock after selling 42 shares during the quarter. Commonwealth Equity Services LLC’s holdings in First Citizens BancShares were worth $1,449,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $147,341,000. AMF Tjanstepension AB purchased a new stake in First Citizens BancShares in the fourth quarter worth about $99,818,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in First Citizens BancShares by 128.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock worth $115,859,000 after buying an additional 30,828 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in First Citizens BancShares by 337.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank’s stock valued at $48,095,000 after acquiring an additional 20,149 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of First Citizens BancShares during the 4th quarter worth approximately $39,739,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Down 2.4 %

First Citizens BancShares stock opened at $1,835.10 on Friday. First Citizens BancShares, Inc. has a 12 month low of $1,518.00 and a 12 month high of $2,412.93. The stock has a fifty day simple moving average of $2,025.58 and a two-hundred day simple moving average of $2,053.90. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market cap of $24.92 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $1.95 per share. The ex-dividend date was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix acquired 17 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the acquisition, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FCNCA has been the subject of a number of research analyst reports. Piper Sandler upgraded 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. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group cut their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. lifted their target price on shares of 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. Finally, Barclays upped their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,288.08.

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.