First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,846 shares of the bank’s stock after selling 36,741 shares during the period. Dimensional Fund Advisors LP’s holdings in First Citizens BancShares were worth $262,387,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FCNCA. Principal Securities Inc. purchased a new position in shares of First Citizens BancShares during the 4th quarter valued at approximately $43,000. Envestnet Portfolio Solutions Inc. increased its position in shares of First Citizens BancShares by 4.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 161 shares of the bank’s stock worth $229,000 after purchasing an additional 7 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of First Citizens BancShares in the 4th quarter valued at about $861,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of First Citizens BancShares by 14.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 661 shares of the bank’s stock worth $938,000 after purchasing an additional 81 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in First Citizens BancShares by 11.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,720 shares of the bank’s stock worth $3,860,000 after purchasing an additional 287 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FCNCA shares. Piper Sandler increased their target price on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Barclays raised their price objective on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods boosted their target price on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Raymond James upgraded shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price target on the stock in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group assumed coverage on shares of First Citizens BancShares in a report on Tuesday, July 9th. They issued a “buy” rating and a $2,005.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,920.82.

First Citizens BancShares Stock Up 2.3 %

FCNCA stock opened at $1,915.14 on Wednesday. The stock has a market cap of $27.83 billion, a PE ratio of 10.63 and a beta of 0.82. The firm’s 50-day simple moving average is $1,938.02 and its 200 day simple moving average is $1,754.75. First Citizens BancShares, Inc. has a fifty-two week low of $1,274.91 and a fifty-two week high of $2,174.80. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $50.87 EPS for the quarter, beating the consensus estimate of $44.91 by $5.96. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $2.30 billion. First Citizens BancShares had a net margin of 18.19% and a return on equity of 14.84%. During the same quarter last year, the business earned $52.60 earnings per share. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 200.92 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 0.34%. The ex-dividend date was Friday, August 30th. First Citizens BancShares’s payout ratio is currently 3.64%.

About First Citizens BancShares

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.