First Citizens BancShares, Inc. (NASDAQ:FCNCA) Position Reduced by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,956 shares of the bank’s stock after selling 161 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Citizens BancShares were worth $2,776,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of First Citizens BancShares by 100.0% in the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after buying an additional 10 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of First Citizens BancShares by 53.3% in the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after buying an additional 8 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of First Citizens BancShares by 60.0% in the third quarter. Federated Hermes Inc. now owns 56 shares of the bank’s stock valued at $77,000 after buying an additional 21 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of First Citizens BancShares by 1,040.0% in the third quarter. UMB Bank n.a. now owns 57 shares of the bank’s stock valued at $79,000 after buying an additional 52 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of First Citizens BancShares in the fourth quarter valued at $95,000. Institutional investors own 61.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on FCNCA shares. Wedbush reissued an “outperform” rating and set a $1,800.00 target price on shares of First Citizens BancShares in a research note on Monday, January 29th. The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a research note on Thursday, March 21st. They set a “buy” rating and a $1,950.00 target price on the stock. StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. UBS Group boosted their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, DA Davidson reissued a “neutral” rating and set a $1,650.00 target price (up from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares has an average rating of “Hold” and an average target price of $1,768.63.

First Citizens BancShares Trading Up 3.5 %

First Citizens BancShares stock opened at $1,622.75 on Tuesday. The company’s fifty day simple moving average is $1,566.98 and its 200-day simple moving average is $1,472.16. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. First Citizens BancShares, Inc. has a 12 month low of $945.32 and a 12 month high of $1,651.73. The stock has a market cap of $23.56 billion, a P/E ratio of 2.07 and a beta of 0.89.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. As a group, sell-side analysts forecast that First Citizens BancShares, Inc. will post 177.19 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio is presently 0.84%.

Insider Buying and Selling

In other First Citizens BancShares news, insider Hope Holding Bryant acquired 300 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the completion of the acquisition, the insider now owns 1,978 shares of the company’s stock, valued at approximately $2,601,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Hope Holding Bryant bought 300 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was purchased at an average price of $1,315.00 per share, with a total value of $394,500.00. Following the transaction, the insider now directly owns 1,978 shares in the company, valued at $2,601,070. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at approximately $7,549,113.78. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,388 shares of company stock worth $1,825,220. Corporate insiders own 12.85% of the company’s stock.

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.