Cibc World Markets Corp Decreases Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cibc World Markets Corp lessened its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 22.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 457 shares of the bank’s stock after selling 134 shares during the quarter. Cibc World Markets Corp’s holdings in First Citizens BancShares were worth $966,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FCNCA. JPMorgan Chase & Co. increased its holdings in shares of First Citizens BancShares by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after buying an additional 18,501 shares during the last quarter. Check Capital Management Inc. CA increased its stake in First Citizens BancShares by 20.0% during the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock worth $70,995,000 after acquiring an additional 5,605 shares during the last quarter. Asset Management One Co. Ltd. raised its position in First Citizens BancShares by 4.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank’s stock valued at $7,811,000 after purchasing an additional 157 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of First Citizens BancShares by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock valued at $86,812,000 after purchasing an additional 1,339 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of First Citizens BancShares during the 4th quarter worth $39,739,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix purchased 17 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.40% of the stock is owned by insiders.

First Citizens BancShares Price Performance

FCNCA stock opened at $1,851.20 on Friday. First Citizens BancShares, Inc. has a 1 year low of $1,518.00 and a 1 year high of $2,412.93. The firm has a market capitalization of $25.13 billion, a P/E ratio of 9.77, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50-day moving average is $2,052.67 and its two-hundred day moving average is $2,054.85.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (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%. Analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Truist Financial boosted their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. UBS Group initiated 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 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price on the stock. Finally, Barclays raised 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 report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,288.08.

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.