First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in First Citizens BancShares during the 4th quarter worth $147,341,000. FMR LLC raised its stake in shares of First Citizens BancShares by 11.6% during the third quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after purchasing an additional 33,713 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in First Citizens BancShares by 128.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock worth $115,859,000 after purchasing an additional 30,828 shares during the period. Commerce Bank grew its position in First Citizens BancShares by 4,762.2% in the 3rd quarter. Commerce Bank now owns 21,345 shares of the bank’s stock valued at $39,295,000 after buying an additional 20,906 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in First Citizens BancShares by 337.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 26,125 shares of the bank’s stock valued at $48,095,000 after buying an additional 20,149 shares during the period. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,738.71 on Friday. First Citizens BancShares, Inc. has a one year low of $1,515.02 and a one year high of $2,412.93. The company has a 50-day moving average of $2,092.22 and a two-hundred day moving average of $2,063.27. 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 stock has a market cap of $23.61 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 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%. On average, equities 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Insider Buying and Selling

In related news, CFO Craig L. Nix acquired 17 shares of the company’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FCNCA shares. Barclays upped their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Truist Financial boosted their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. UBS Group assumed coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.