Commonwealth Equity Services LLC Sells 42 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Commonwealth Equity Services LLC cut its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 686 shares of the bank’s stock after selling 42 shares during the period. Commonwealth Equity Services LLC’s holdings in First Citizens BancShares were worth $1,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tredje AP fonden boosted its position in First Citizens BancShares by 444.1% during the fourth quarter. Tredje AP fonden now owns 6,034 shares of the bank’s stock valued at $12,750,000 after acquiring an additional 4,925 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of First Citizens BancShares by 360.9% during the 4th quarter. Farther Finance Advisors LLC now owns 212 shares of the bank’s stock valued at $448,000 after purchasing an additional 166 shares in the last quarter. Independent Advisor Alliance grew its stake in First Citizens BancShares by 6.2% during the fourth quarter. Independent Advisor Alliance now owns 1,158 shares of the bank’s stock worth $2,447,000 after purchasing an additional 68 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in First Citizens BancShares by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the bank’s stock worth $4,668,000 after purchasing an additional 47 shares in the last quarter. Finally, Personal CFO Solutions LLC bought a new stake in shares of First Citizens BancShares in the 4th quarter valued at $264,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 2.4 %

Shares of FCNCA stock opened at $1,835.10 on Friday. The stock has a market capitalization of $24.92 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 0.94 and a beta of 0.81. The company’s fifty day simple moving average is $2,025.58 and its two-hundred day simple moving average is $2,053.90. First Citizens BancShares, Inc. has a 1 year low of $1,518.00 and a 1 year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

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

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FCNCA shares. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Keefe, Bruyette & Woods upped their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of 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. Finally, Barclays lifted their target price on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,288.08.

Insider Activity at First Citizens BancShares

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

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.