UniSuper Management Pty Ltd Reduces Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

UniSuper Management Pty Ltd decreased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 33.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200 shares of the bank’s stock after selling 100 shares during the period. UniSuper Management Pty Ltd’s holdings in First Citizens BancShares were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FCNCA. Financial Life Planners bought a new stake in shares of First Citizens BancShares during the 4th quarter worth approximately $33,000. Hemington Wealth Management lifted its position 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 purchasing an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. bought a new stake in shares of First Citizens BancShares during the fourth quarter worth $36,000. Mather Group LLC. boosted its stake in shares of First Citizens BancShares by 38.5% during 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 bought a new position in shares of First Citizens BancShares in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,854.12 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The business’s 50 day moving average price is $2,018.88 and its 200 day moving average price is $2,055.75. First Citizens BancShares, Inc. has a 52 week low of $1,518.00 and a 52 week high of $2,412.93. The firm has a market cap of $25.17 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.94 and a beta of 0.81.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 24th. The bank reported $45.10 EPS 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, sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares’s payout ratio is currently 4.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FCNCA shares. Truist Financial boosted their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price objective 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. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 target price for the company. 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 report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. raised their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Six equities research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,288.08.

Insider Activity

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Company 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.