Capital Research Global Investors Has $1.32 Billion Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Capital Research Global Investors lowered its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 624,813 shares of the bank’s stock after selling 41,455 shares during the quarter. Capital Research Global Investors’ holdings in First Citizens BancShares were worth $1,320,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financial Life Planners bought a new position in shares of First Citizens BancShares in the 4th quarter valued at about $33,000. Hemington Wealth Management lifted its holdings in First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after acquiring an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. bought a new stake in First Citizens BancShares in the 4th quarter valued at $36,000. Mather Group LLC. raised its stake in shares of First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares during the period. Finally, Asset Planning Inc acquired a new stake in shares of First Citizens BancShares in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FCNCA. Barclays lifted their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research note on Monday, January 27th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Piper Sandler upgraded 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 note on Tuesday, March 11th. Keefe, Bruyette & Woods increased their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Finally, The Goldman Sachs Group reduced their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,346.09.

First Citizens BancShares Stock Up 1.5 %

Shares of NASDAQ FCNCA opened at $1,716.62 on Friday. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The firm has a market capitalization of $23.31 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The firm has a fifty day simple moving average of $1,863.73 and a two-hundred day simple moving average of $2,030.66. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. Equities analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now 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 legal filing with the SEC, which is available through this hyperlink. 13.40% of the stock is owned by insiders.

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.