First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Comerica Bank

Comerica Bank decreased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,154 shares of the bank’s stock after selling 64 shares during the quarter. Comerica Bank’s holdings in First Citizens BancShares were worth $4,553,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of First Citizens BancShares by 19.2% during the third quarter. Barclays PLC now owns 7,195 shares of the bank’s stock worth $13,246,000 after buying an additional 1,158 shares during the last quarter. Tidal Investments LLC raised its stake in shares of First Citizens BancShares by 95.6% during the third quarter. Tidal Investments LLC now owns 1,158 shares of the bank’s stock worth $2,132,000 after purchasing an additional 566 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of First Citizens BancShares during the third quarter worth $203,000. JPMorgan Chase & Co. grew its position in First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after buying an additional 18,501 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in First Citizens BancShares by 16.1% in the 4th quarter. GAMMA Investing LLC now owns 72 shares of the bank’s stock valued at $152,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FCNCA. Truist Financial raised their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Piper Sandler upgraded First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price on the stock in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods raised their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group reduced their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,330.82.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost 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. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,843.29 on Tuesday. The firm has a market capitalization of $25.03 billion, a PE ratio of 9.73, a P/E/G ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The firm’s 50-day simple moving average is $1,785.21 and its 200 day simple moving average is $2,014.55. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. On average, equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares’s payout ratio is 4.47%.

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.