First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,431 shares of the bank’s stock after selling 500 shares during the quarter. New York State Common Retirement Fund’s holdings in First Citizens BancShares were worth $13,589,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Angel Oak Capital Advisors LLC acquired a new stake in First Citizens BancShares during the fourth quarter valued at approximately $824,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of First Citizens BancShares during the 4th quarter valued at $9,359,000. Atria Wealth Solutions Inc. boosted its stake in shares of First Citizens BancShares by 106.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 302 shares of the bank’s stock worth $637,000 after acquiring an additional 156 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of First Citizens BancShares by 10.4% in the 4th quarter. Venturi Wealth Management LLC now owns 213 shares of the bank’s stock worth $450,000 after acquiring an additional 20 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of First Citizens BancShares by 1.0% in the 4th quarter. Truist Financial Corp now owns 9,986 shares of the bank’s stock worth $21,101,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased 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 report on Tuesday, January 7th. The Goldman Sachs Group raised their target price on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Barclays boosted their price target 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. Truist Financial raised their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $2,049.25 on Monday. First Citizens BancShares, Inc. has a fifty-two week low of $1,500.94 and a fifty-two week high of $2,412.93. The stock’s 50-day moving average is $2,145.78 and its two-hundred day moving average is $2,071.81. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $28.67 billion, a P/E ratio of 10.82, a PEG ratio of 0.94 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping 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%. Analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared 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 of this dividend is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.38%. First Citizens BancShares’s dividend payout ratio is currently 4.12%.

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.