Geode Capital Management LLC Has $424.51 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Geode Capital Management LLC lowered its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 201,202 shares of the bank’s stock after selling 1,786 shares during the period. Geode Capital Management LLC owned 1.44% of First Citizens BancShares worth $424,512,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. M&T Bank Corp grew its stake in First Citizens BancShares by 0.8% during the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares during the period. Mather Group LLC. boosted its holdings in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of First Citizens BancShares by 3.0% in the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock valued at $363,000 after acquiring an additional 5 shares in the last quarter. Exencial Wealth Advisors LLC lifted its position in shares of First Citizens BancShares by 1.2% during the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $904,000 after acquiring an additional 5 shares during the period. Finally, Hemington Wealth Management lifted its position in shares of First Citizens BancShares by 60.0% during 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. 78.01% of the stock is owned by institutional investors.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $1,881.13 per share, with a total value 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 trade represents a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.19% of the company’s stock.

Wall Street Analyst Weigh In

FCNCA has been the subject of several research analyst reports. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Deutsche Bank Aktiengesellschaft started coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. The Goldman Sachs Group cut their price target on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Truist Financial upped their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, Piper Sandler raised shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a research report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,288.08.

First Citizens BancShares Stock Down 3.7 %

FCNCA opened at $1,571.21 on Friday. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The firm has a market capitalization of $21.33 billion, a P/E ratio of 8.29, a PEG ratio of 0.94 and a beta of 0.66. The company’s 50-day moving average is $1,978.80 and its 200 day moving average is $2,049.30. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share 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%. Research analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

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.