Victory Capital Management Inc. Has $10.81 Million Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Victory Capital Management Inc. lowered its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,115 shares of the bank’s stock after selling 471 shares during the period. Victory Capital Management Inc.’s holdings in First Citizens BancShares were worth $10,808,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Exencial Wealth Advisors LLC raised its holdings in First Citizens BancShares by 1.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $904,000 after buying an additional 5 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of First Citizens BancShares by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 47,724 shares of the bank’s stock valued at $100,842,000 after acquiring an additional 568 shares during the last quarter. State of Michigan Retirement System bought a new position in shares of First Citizens BancShares in the 4th quarter valued at approximately $423,000. Steward Partners Investment Advisory LLC lifted its holdings in First Citizens BancShares by 10.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 77 shares of the bank’s stock worth $164,000 after purchasing an additional 7 shares during the last quarter. Finally, Gryphon Financial Partners LLC acquired a new stake in First Citizens BancShares in the 4th quarter worth approximately $212,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 1.0 %

Shares of FCNCA opened at $1,738.71 on Friday. The stock’s 50-day moving average price is $2,092.22 and its 200 day moving average price is $2,063.27. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $23.61 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a 12-month low of $1,515.02 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, research analysts predict 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, March 17th. Stockholders of record on Friday, February 28th will be paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio is 4.12%.

Insider Activity

In related news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was acquired 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 owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FCNCA shares. The Goldman Sachs Group lifted their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. UBS Group began coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. JPMorgan Chase & Co. raised their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Finally, Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Company 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.