First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stake Lessened by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC cut its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308 shares of the bank’s stock after selling 40 shares during the period. Sequoia Financial Advisors LLC’s holdings in First Citizens BancShares were worth $651,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. M&T Bank Corp grew its position in shares of First Citizens BancShares by 0.8% in the 3rd quarter. M&T Bank Corp now owns 607 shares of the bank’s stock worth $1,117,000 after acquiring an additional 5 shares in the last quarter. Mather Group LLC. lifted its stake in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the last quarter. Private Advisor Group LLC boosted its holdings in First Citizens BancShares by 3.0% in the fourth 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 stake in First Citizens BancShares by 1.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock valued at $904,000 after purchasing an additional 5 shares during the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of First Citizens BancShares by 4.9% during the third 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. 78.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several research reports. JPMorgan Chase & Co. increased their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on 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. UBS Group assumed coverage on First Citizens BancShares in a research note on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price objective for the company. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target for the company. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares presently has an average rating of “Moderate Buy” and an average target price of $2,323.50.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares Trading Up 1.6 %

Shares of NASDAQ:FCNCA opened at $1,836.66 on Tuesday. First Citizens BancShares, Inc. has a twelve month low of $1,518.00 and a twelve month high of $2,412.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market cap of $24.94 billion, a P/E ratio of 9.70, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a 50 day moving average of $2,071.82 and a 200-day moving average of $2,060.21.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results 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%. As a group, analysts anticipate 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 was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 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.