Geode Capital Management LLC Sells 1,786 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Geode Capital Management LLC decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 201,202 shares of the bank’s stock after selling 1,786 shares during the quarter. Geode Capital Management LLC’s holdings in First Citizens BancShares were worth $424,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tradewinds LLC. bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at about $5,347,000. Schroder Investment Management Group grew its stake in First Citizens BancShares by 107.2% during the fourth quarter. Schroder Investment Management Group now owns 462 shares of the bank’s stock valued at $976,000 after acquiring an additional 239 shares in the last quarter. Allstate Corp bought a new stake in First Citizens BancShares during the 4th quarter worth approximately $632,000. Level Four Advisory Services LLC lifted its stake in First Citizens BancShares by 9.2% in the 4th quarter. Level Four Advisory Services LLC now owns 4,838 shares of the bank’s stock worth $10,224,000 after purchasing an additional 407 shares in the last quarter. Finally, Norges Bank purchased a new stake in First Citizens BancShares in the 4th quarter worth approximately $298,426,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

FCNCA stock opened at $1,571.21 on Friday. The firm has a market cap of $21.33 billion, a P/E ratio of 8.29, a P/E/G ratio of 0.94 and a beta of 0.66. The firm’s fifty day moving average is $1,978.80 and its 200 day moving average is $2,049.30. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. 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 (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.95 dividend. 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 (DPR) is currently 4.12%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of 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. Finally, StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average target price of $2,288.08.

Insider Buying and Selling at First Citizens BancShares

In other news, CFO Craig L. Nix acquired 17 shares of the firm’s stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.19% 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.