Cannell & Spears LLC Has $15.37 Million Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cannell & Spears LLC trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,275 shares of the bank’s stock after selling 389 shares during the period. Cannell & Spears LLC owned approximately 0.05% of First Citizens BancShares worth $15,372,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its stake in First Citizens BancShares by 34.0% in the third quarter. Cerity Partners LLC now owns 1,290 shares of the bank’s stock valued at $2,375,000 after buying an additional 327 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of First Citizens BancShares by 16.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,628 shares of the bank’s stock worth $12,202,000 after acquiring an additional 946 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First Citizens BancShares by 6.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,162 shares of the bank’s stock worth $3,980,000 after purchasing an additional 123 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in First Citizens BancShares by 15.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after acquiring an additional 7,613 shares in the last quarter. Finally, Martingale Asset Management L P acquired a new position in First Citizens BancShares during the 3rd quarter worth approximately $258,000. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 2.4 %

FCNCA stock opened at $1,835.10 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $24.92 billion, a PE ratio of 9.69, a P/E/G ratio of 0.94 and a beta of 0.81. The firm’s 50-day moving average is $2,025.58 and its 200 day moving average is $2,055.55. First Citizens BancShares, Inc. has a 12 month low of $1,518.00 and a 12 month 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, 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%. On average, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a yield of 0.43%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Insider Buying and Selling

In other news, CFO Craig L. Nix acquired 17 shares of the firm’s 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 acquisition, the chief financial officer now owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 13.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on FCNCA shares. Deutsche Bank Aktiengesellschaft began coverage on 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. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Piper Sandler raised shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods lifted 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 report on Monday, January 27th. Finally, Truist Financial increased their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average target price of $2,288.08.

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.