First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Bronte Capital Management Pty Ltd.

Bronte Capital Management Pty Ltd. lessened its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 12.5% in the 4th quarter, HoldingsChannel reports. The fund owned 21,487 shares of the bank’s stock after selling 3,060 shares during the period. First Citizens BancShares accounts for about 0.0% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 18th biggest holding. Bronte Capital Management Pty Ltd.’s holdings in First Citizens BancShares were worth $45,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in shares of First Citizens BancShares by 360.9% during the 4th quarter. Farther Finance Advisors LLC now owns 212 shares of the bank’s stock worth $448,000 after purchasing an additional 166 shares during the period. Independent Advisor Alliance raised its holdings in First Citizens BancShares by 6.2% in the fourth quarter. Independent Advisor Alliance now owns 1,158 shares of the bank’s stock valued at $2,447,000 after buying an additional 68 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in First Citizens BancShares by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,209 shares of the bank’s stock valued at $4,668,000 after acquiring an additional 47 shares in the last quarter. Personal CFO Solutions LLC acquired a new stake in First Citizens BancShares in the fourth quarter valued at approximately $264,000. Finally, Amundi grew its position in shares of First Citizens BancShares by 1.7% during the fourth quarter. Amundi now owns 8,955 shares of the bank’s stock worth $18,752,000 after buying an additional 146 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $1,728.36 on Wednesday. The stock has a fifty day moving average price of $2,107.06 and a 200-day moving average price of $2,067.45. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 9.12, 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 fifty-two week low of $1,505.73 and a fifty-two week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS 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%. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS 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 given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group assumed coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective for the company. Citigroup downgraded shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Truist Financial boosted their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. Finally, Barclays upped their target price on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

Insiders Place Their Bets

In related news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction that occurred 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 purchase, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Company 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.