Cerity Partners LLC Sells 16 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Cerity Partners LLC lessened its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,274 shares of the bank’s stock after selling 16 shares during the period. Cerity Partners LLC’s holdings in First Citizens BancShares were worth $2,635,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Financial Life Planners acquired a new stake in shares of First Citizens BancShares in the 4th quarter valued at about $33,000. Hemington Wealth Management grew its holdings in shares of 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 buying an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new stake in First Citizens BancShares in the 4th quarter valued at approximately $36,000. Mather Group LLC. lifted its stake in 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 acquiring an additional 5 shares in the last quarter. Finally, Asset Planning Inc bought a new stake in First Citizens BancShares in the 4th quarter valued at approximately $38,000. Institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling

In related news, CFO Craig L. Nix purchased 17 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $1,881.13 per share, with a total value 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. This trade represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.40% of the stock is owned by insiders.

First Citizens BancShares Stock Up 0.9 %

Shares of FCNCA opened at $1,673.22 on Tuesday. The firm has a market cap of $22.72 billion, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. 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 $1,893.27 and its 200 day simple moving average is $2,036.22.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on FCNCA shares. The Goldman Sachs Group lowered their price objective on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Truist Financial lifted their price target on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. UBS Group initiated coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 target price on the stock. Finally, Piper Sandler raised 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. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.