CIBC Private Wealth Group LLC Sells 8 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

CIBC Private Wealth Group LLC decreased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169 shares of the bank’s stock after selling 8 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in First Citizens BancShares were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FCNCA. JPMorgan Chase & Co. grew its position in First Citizens BancShares by 35.7% in the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock valued at $828,510,000 after purchasing an additional 103,137 shares in the last quarter. Norges Bank bought a new position in shares of First Citizens BancShares in the 4th quarter valued at about $298,426,000. Proficio Capital Partners LLC acquired a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $147,341,000. Reinhart Partners LLC. raised its holdings in First Citizens BancShares by 2.1% during the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock worth $122,516,000 after acquiring an additional 1,183 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in First Citizens BancShares by 128.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock valued at $115,859,000 after purchasing an additional 30,828 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Performance

Shares of NASDAQ:FCNCA opened at $1,571.21 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 company’s 50 day moving average price is $1,978.80 and its two-hundred day moving average price is $2,050.23. The firm has a market cap of $21.33 billion, a PE ratio of 8.29, a PEG ratio of 0.94 and a beta of 0.66. 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 issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

Insiders Place Their Bets

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the business’s stock in a transaction on Friday, March 7th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $2,146,369.33. This trade represents a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 13.19% of the company’s stock.

Analysts Set New Price Targets

FCNCA has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on shares of 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. UBS Group began coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target for the company. Keefe, Bruyette & Woods upped their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, Truist Financial lifted their target price on 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. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,288.08.

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.