First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 279 shares of the bank’s stock after selling 28 shares during the period. Ritholtz Wealth Management’s holdings in First Citizens BancShares were worth $590,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FCNCA. Brooklyn Investment Group purchased a new position in First Citizens BancShares in the 3rd quarter valued at about $39,000. GAMMA Investing LLC boosted its holdings in First Citizens BancShares by 129.6% in the third quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after purchasing an additional 35 shares during the last quarter. Quarry LP acquired a new stake in First Citizens BancShares during the 2nd quarter valued at approximately $126,000. Private Trust Co. NA increased its holdings in First Citizens BancShares by 2,100.0% during the 3rd quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock worth $162,000 after purchasing an additional 84 shares during the last quarter. Finally, UMB Bank n.a. acquired a new position in shares of First Citizens BancShares in the 3rd quarter valued at approximately $177,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCNCA. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods upgraded shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $2,500.00 target price for the company in a research note on Tuesday, January 14th. Wedbush reduced their price target on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Truist Financial started coverage on shares of First Citizens BancShares in a research report on Tuesday, January 7th. They set a “hold” rating and a $2,303.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,290.75.

First Citizens BancShares Stock Up 1.5 %

FCNCA stock opened at $2,188.94 on Tuesday. First Citizens BancShares, Inc. has a 52-week low of $1,371.77 and a 52-week high of $2,388.78. 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 firm has a market capitalization of $30.62 billion, a P/E ratio of 12.54, a P/E/G ratio of 0.96 and a beta of 0.86. The company’s 50 day simple moving average is $2,167.41 and its 200-day simple moving average is $2,023.61.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same period in the prior year, the company posted $55.92 earnings per share. As a group, equities research analysts anticipate that First Citizens BancShares, Inc. will post 186.98 EPS for the current year.

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.