First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 72.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 555 shares of the bank’s stock after selling 1,425 shares during the period. Prudential Financial Inc.’s holdings in First Citizens BancShares were worth $1,173,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Financial Life Planners purchased a new position in First Citizens BancShares during the fourth quarter worth about $33,000. Hemington Wealth Management increased its holdings in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during 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. raised its position in First Citizens BancShares by 38.5% in the fourth 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 position in First Citizens BancShares during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Transactions at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was 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 accessible through the SEC website. Insiders own 13.19% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,571.21 on Monday. The stock’s 50-day simple moving average is $1,978.80 and its 200-day simple moving average is $2,051.30. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $21.33 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93.

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

First Citizens BancShares Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on FCNCA. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Truist Financial increased 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. Barclays lifted their price objective on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. UBS Group started coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target for the company. Finally, The Goldman Sachs Group dropped their price target 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. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average target price of $2,288.08.

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.