Blair William & Co. IL Cuts Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Blair William & Co. IL lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 980 shares of the bank’s stock after selling 32 shares during the period. Blair William & Co. IL’s holdings in First Citizens BancShares were worth $2,071,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in FCNCA. Financial Life Planners purchased a new position in shares of First Citizens BancShares during the 4th quarter valued at $33,000. Hemington Wealth Management raised its stake in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares during the period. Duncker Streett & Co. Inc. purchased a new stake in First Citizens BancShares during the fourth quarter valued at about $36,000. Mather Group LLC. boosted its position in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the period. Finally, Asset Planning Inc purchased a new position in shares of First Citizens BancShares in the fourth quarter worth about $38,000. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $1,823.47 on Wednesday. First Citizens BancShares, Inc. has a fifty-two week low of $1,518.00 and a fifty-two week high of $2,412.93. The firm’s fifty day moving average price is $2,010.73 and its 200-day moving average price is $2,055.68. The stock has a market cap of $24.76 billion, a P/E ratio of 9.63, a price-to-earnings-growth 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 (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given 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 payout ratio is currently 4.12%.

Analyst Ratings Changes

FCNCA has been the topic of a number of recent research reports. Barclays upped their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Piper Sandler upgraded First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price for the company in a research note on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods upped their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,288.08.

Insider Transactions at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the chief financial officer now 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 filing with the SEC, which is available at this link. Company insiders own 13.40% of the company’s stock.

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.