Great Lakes Advisors LLC Sells 7 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Great Lakes Advisors LLC reduced its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 781 shares of the bank’s stock after selling 7 shares during the period. Great Lakes Advisors LLC’s holdings in First Citizens BancShares were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Financial Life Planners acquired a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $33,000. Hemington Wealth Management boosted its holdings in shares of First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after acquiring an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $36,000. Mather Group LLC. boosted its holdings in shares of First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after acquiring an additional 5 shares in the last quarter. Finally, Asset Planning Inc acquired a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $38,000. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Performance

FCNCA stock opened at $1,807.49 on Friday. The business’s fifty day moving average is $2,078.08 and its 200-day moving average is $2,060.72. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a market cap of $24.54 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a twelve month low of $1,517.99 and a twelve month high of $2,412.93.

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

First Citizens BancShares Announces Dividend

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

Insider Activity at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 13.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on FCNCA. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price on the stock in a report on Tuesday, March 11th. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Barclays upped their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective on the stock. Finally, StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus price target 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.