Nuveen Asset Management LLC Sells 5,644 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Nuveen Asset Management LLC lessened its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,314 shares of the bank’s stock after selling 5,644 shares during the period. Nuveen Asset Management LLC’s holdings in First Citizens BancShares were worth $192,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of FCNCA. Financial Life Planners acquired a new stake in First Citizens BancShares in the fourth quarter valued at approximately $33,000. Hemington Wealth Management increased 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. bought a new position in shares of First Citizens BancShares in the 4th quarter valued at $36,000. Mather Group LLC. boosted its holdings in shares of First Citizens BancShares by 38.5% during 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 acquired a new stake in shares of First Citizens BancShares during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on FCNCA shares. 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. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, March 11th. TD Cowen assumed coverage on shares of First Citizens BancShares in a report on Thursday. They issued a “buy” rating and a $2,400.00 price target for the company. StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, April 28th. Finally, The Goldman Sachs Group lowered their price objective on 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average target price of $2,336.58.

Insider Transactions at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 350 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,758 shares of the company’s stock, valued at $4,440,380. This represents a 14.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Craig L. Nix purchased 17 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost 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 in the company, valued at approximately $2,146,369.33. The trade was a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,966.55 on Friday. The company has a market capitalization of $26.70 billion, a PE ratio of 10.38, a PEG ratio of 0.94 and a beta of 0.64. 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 stock’s 50 day moving average price is $1,780.28 and its 200-day moving average price is $2,008.55. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping analysts’ consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, May 30th. First Citizens BancShares’s dividend payout ratio is presently 4.47%.

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.