First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 33.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 200 shares of the bank’s stock after selling 100 shares during the period. UniSuper Management Pty Ltd’s holdings in First Citizens BancShares were worth $423,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Cerity Partners LLC increased its holdings in First Citizens BancShares by 34.0% in the third quarter. Cerity Partners LLC now owns 1,290 shares of the bank’s stock valued at $2,375,000 after buying an additional 327 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of First Citizens BancShares by 16.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,628 shares of the bank’s stock worth $12,202,000 after acquiring an additional 946 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of First Citizens BancShares by 6.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,162 shares of the bank’s stock valued at $3,980,000 after acquiring an additional 123 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of First Citizens BancShares by 15.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after acquiring an additional 7,613 shares in the last quarter. Finally, Martingale Asset Management L P purchased a new stake in First Citizens BancShares during the third quarter worth approximately $258,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 1.0 %

First Citizens BancShares stock opened at $1,854.12 on Tuesday. The stock has a market capitalization of $25.17 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 0.94 and a beta of 0.81. 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 stock has a 50 day moving average of $2,018.88 and a two-hundred day moving average of $2,055.75. First Citizens BancShares, Inc. has a twelve month low of $1,518.00 and a twelve month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating 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%. As a group, 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 company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $1.95 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

Insider Transactions 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 purchased 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 directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased 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. Piper Sandler raised shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price on the stock in a research report on Tuesday, March 11th. UBS Group initiated coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Barclays lifted their target price 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.