First Citizens BancShares, Inc. (NASDAQ:FCNCA) Position Decreased by Systematic Financial Management LP

Systematic Financial Management LP decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 18.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,097 shares of the bank’s stock after selling 6,925 shares during the quarter. First Citizens BancShares comprises about 1.6% of Systematic Financial Management LP’s investment portfolio, making the stock its 4th biggest position. Systematic Financial Management LP’s holdings in First Citizens BancShares were worth $63,596,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in First Citizens BancShares by 35.7% during the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock worth $828,510,000 after buying an additional 103,137 shares during the period. FMR LLC boosted its position in First Citizens BancShares by 10.5% during the 4th quarter. FMR LLC now owns 357,629 shares of the bank’s stock worth $755,677,000 after purchasing an additional 34,097 shares during the period. Capital International Investors boosted its position in First Citizens BancShares by 78.2% during the 4th quarter. Capital International Investors now owns 172,723 shares of the bank’s stock worth $364,967,000 after purchasing an additional 75,785 shares during the period. Norges Bank purchased a new stake in First Citizens BancShares during the 4th quarter worth $298,426,000. Finally, Northern Trust Corp boosted its position in First Citizens BancShares by 16.9% during the 4th quarter. Northern Trust Corp now owns 76,739 shares of the bank’s stock worth $162,151,000 after purchasing an additional 11,122 shares during the period. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other First Citizens BancShares news, CFO Craig L. Nix acquired 17 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Frank B. Holding, Jr. acquired 350 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the purchase, the chief executive officer now owns 2,758 shares of the company’s stock, valued at $4,440,380. This trade represents a 14.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FCNCA. 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. Keefe, Bruyette & Woods upped their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. TD Cowen began coverage on shares of First Citizens BancShares in a research report on Thursday. They set a “buy” rating and a $2,400.00 price target for the company. Barclays decreased their price target on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating for the company in a research report on Friday, April 25th. Finally, Truist Financial upped their price target on shares of 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. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,336.58.

First Citizens BancShares Trading Down 0.7%

FCNCA opened at $1,953.58 on Friday. The stock has a market capitalization of $26.52 billion, a PE ratio of 10.31, a P/E/G ratio of 0.94 and a beta of 0.64. The firm’s fifty day moving average price is $1,784.78 and its 200 day moving average price is $2,008.63. 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, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.40%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.47%.

First Citizens BancShares Profile

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.