Mawer Investment Management Ltd. Sells 70 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mawer Investment Management Ltd. cut its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 9,703 shares of the bank’s stock after selling 70 shares during the period. Mawer Investment Management Ltd.’s holdings in First Citizens BancShares were worth $20,503,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after buying an additional 18,501 shares during the period. Check Capital Management Inc. CA boosted its position in First Citizens BancShares by 20.0% during the 4th quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock valued at $70,995,000 after acquiring an additional 5,605 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in First Citizens BancShares by 4.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank’s stock valued at $7,811,000 after acquiring an additional 157 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of First Citizens BancShares in the 4th quarter valued at $39,739,000. Finally, Assetmark Inc. raised its position in shares of First Citizens BancShares by 57.7% in the 4th quarter. Assetmark Inc. now owns 5,363 shares of the bank’s stock worth $11,332,000 after acquiring an additional 1,962 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. This trade represents a 1.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 13.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FCNCA shares. Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods boosted 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 research note on Monday, January 27th. UBS Group assumed coverage on shares of First Citizens BancShares in a research note on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price for the company. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Piper Sandler upgraded 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 note on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus price target of $2,288.08.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $1,835.10 on Friday. The firm’s fifty day moving average is $2,025.58 and its two-hundred day moving average is $2,053.90. The firm has a market cap 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 has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a one year low of $1,518.00 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping 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%. Research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.95 per share. 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 (DPR) is presently 4.12%.

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.