Capital Research Global Investors Sells 7,529 Shares of First Citizens BancShares, Inc. $FCNCA

Capital Research Global Investors trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,144 shares of the bank’s stock after selling 7,529 shares during the quarter. Capital Research Global Investors owned 0.90% of First Citizens BancShares worth $240,681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of First Citizens BancShares by 4.4% during the third quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock worth $778,785,000 after purchasing an additional 18,190 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of First Citizens BancShares by 117,518.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock worth $441,755,000 after purchasing an additional 205,658 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of First Citizens BancShares by 16.3% during the third quarter. Alliancebernstein L.P. now owns 78,310 shares of the bank’s stock worth $140,109,000 after purchasing an additional 10,948 shares during the last quarter. Reinhart Partners LLC. lifted its position in shares of First Citizens BancShares by 10.8% during the fourth quarter. Reinhart Partners LLC. now owns 77,814 shares of the bank’s stock worth $167,041,000 after purchasing an additional 7,566 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of First Citizens BancShares by 57.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 76,088 shares of the bank’s stock worth $164,247,000 after purchasing an additional 27,789 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. bought 5,940 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the completion of the purchase, the chief executive officer directly owned 38,111 shares of the company’s stock, valued at approximately $65,810,837.02. This trade represents a 18.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 6,187 shares of company stock valued at $10,640,161 in the last 90 days. 14.63% of the stock is owned by insiders.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $2,075.10 on Monday. First Citizens BancShares, Inc. has a 1-year low of $1,623.76 and a 1-year high of $2,232.21. The company has a 50-day moving average of $1,965.38 and a 200 day moving average of $1,999.85. The firm has a market cap of $24.04 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm earned $37.79 earnings per share. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, May 29th. First Citizens BancShares’s payout ratio is 4.83%.

Analyst Ratings Changes

Several analysts have recently weighed in on FCNCA shares. Zacks Research upgraded First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Deutsche Bank Aktiengesellschaft lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price target on the stock. in a research note on Wednesday, April 8th. JPMorgan Chase & Co. lowered their price objective on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a research note on Friday, April 24th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2,215.91.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.