First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 13.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 534 shares of the bank’s stock after selling 81 shares during the period. PNC Financial Services Group Inc.’s holdings in First Citizens BancShares were worth $1,129,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FCNCA. M&T Bank Corp increased its position in First Citizens BancShares by 0.8% during the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after purchasing an additional 5 shares during the period. Mather Group LLC. increased its position in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the period. Private Advisor Group LLC increased its position in First Citizens BancShares by 3.0% during the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock worth $363,000 after purchasing an additional 5 shares during the period. Exencial Wealth Advisors LLC increased its position in First Citizens BancShares by 1.2% during the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $904,000 after purchasing an additional 5 shares during the period. Finally, Metis Global Partners LLC increased its position in First Citizens BancShares by 4.9% during the 3rd quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after purchasing an additional 6 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Buying and Selling

In other news, CFO Craig L. Nix bought 17 shares of First Citizens BancShares 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 acquisition, the chief financial officer now owns 1,141 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FCNCA. UBS Group began coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target on the stock. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target on the stock in a research note on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods boosted their price target on 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. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Trading Up 4.0 %

Shares of FCNCA opened at $1,807.49 on Monday. The stock has a fifty day moving average of $2,078.08 and a two-hundred day moving average of $2,061.30. 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 company has a market capitalization of $24.54 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a fifty-two week low of $1,517.99 and a fifty-two week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, beating 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%. As a group, analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.43%. First Citizens BancShares’s payout ratio is 4.12%.

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.