Principal Financial Group Inc. Sells 158 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Principal Financial Group Inc. decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,474 shares of the bank’s stock after selling 158 shares during the period. Principal Financial Group Inc.’s holdings in First Citizens BancShares were worth $3,115,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FCNCA. Financial Life Planners bought a new position in First Citizens BancShares during the 4th quarter worth approximately $33,000. Hemington Wealth Management raised its stake in First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after buying an additional 6 shares during the last quarter. Mather Group LLC. raised its stake in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after buying an additional 5 shares during the last quarter. Asset Planning Inc purchased a new position in First Citizens BancShares during the fourth quarter valued at $38,000. Finally, Brooklyn Investment Group purchased a new position in shares of First Citizens BancShares in the third quarter worth $39,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Down 4.4 %

Shares of FCNCA stock opened at $1,901.91 on Wednesday. The stock’s fifty day moving average price is $2,136.29 and its 200 day moving average price is $2,073.03. First Citizens BancShares, Inc. has a 1-year low of $1,505.73 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. The company has a market cap of $25.82 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of 0.94 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

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 issued a $1.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.41%. First Citizens BancShares’s payout ratio is 4.12%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FCNCA shares. Piper Sandler increased their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a report on Monday, January 27th. The Goldman Sachs Group raised their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. UBS Group began coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

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.