First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,136 shares of the bank’s stock after selling 64 shares during the period. DekaBank Deutsche Girozentrale’s holdings in First Citizens BancShares were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in FCNCA. Blue Trust Inc. boosted its position in shares of First Citizens BancShares by 100.0% during the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after purchasing an additional 10 shares during the period. Castleview Partners LLC purchased a new position in shares of First Citizens BancShares during the 2nd quarter worth approximately $31,000. Lindbrook Capital LLC boosted its position in shares of First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after purchasing an additional 8 shares during the period. Resurgent Financial Advisors LLC purchased a new position in shares of First Citizens BancShares during the 4th quarter worth approximately $35,000. Finally, Fred Alger Management LLC purchased a new position in shares of First Citizens BancShares during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,569.17 on Friday. The stock has a market cap of $22.78 billion, a P/E ratio of 2.00 and a beta of 0.89. The company has a fifty day simple moving average of $1,559.06 and a 200-day simple moving average of $1,462.34. First Citizens BancShares, Inc. has a 12-month low of $945.32 and a 12-month high of $1,651.73. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. The company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.36 billion. Equities analysts expect that First Citizens BancShares, Inc. will post 178.72 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 annualized dividend and a yield of 0.42%. First Citizens BancShares’s dividend payout ratio is currently 0.84%.

Analysts Set New Price Targets

Several brokerages have commented on FCNCA. DA Davidson reissued a “neutral” rating on shares of First Citizens BancShares in a research report on Monday, January 15th. The Goldman Sachs Group began coverage on shares of First Citizens BancShares in a research report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price target for the company. Barclays began coverage on shares of First Citizens BancShares in a research report on Thursday. They issued an “equal weight” rating and a $1,850.00 price target for the company. UBS Group raised their price target on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, StockNews.com cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $1,785.57.

Insider Buying and Selling

In related news, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the sale, the director now directly owns 4,842 shares in the company, valued at approximately $7,549,113.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the transaction, the director now directly owns 4,842 shares in the company, valued at $7,549,113.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Olivia Britton Holding acquired 466 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the completion of the purchase, the insider now owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Insiders have purchased 1,388 shares of company stock worth $1,825,220 in the last ninety days. 13.40% of the stock is owned by corporate insiders.

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.