Egerton Capital UK LLP Sells 146,291 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Egerton Capital UK LLP lowered its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 58.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,516 shares of the bank’s stock after selling 146,291 shares during the period. First Citizens BancShares makes up 2.5% of Egerton Capital UK LLP’s holdings, making the stock its 19th biggest holding. Egerton Capital UK LLP owned 0.73% of First Citizens BancShares worth $216,618,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Hiddenite Capital Partners LP grew its position in First Citizens BancShares by 14.1% in the third quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock valued at $5,946,000 after acquiring an additional 400 shares during the last quarter. Retireful LLC bought a new position in First Citizens BancShares in the third quarter valued at about $801,000. JPMorgan Chase & Co. grew its position in First Citizens BancShares by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after acquiring an additional 18,501 shares during the last quarter. Check Capital Management Inc. CA grew its position in First Citizens BancShares by 20.0% in the fourth quarter. Check Capital Management Inc. CA now owns 33,599 shares of the bank’s stock valued at $70,995,000 after acquiring an additional 5,605 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in First Citizens BancShares by 4.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,663 shares of the bank’s stock valued at $7,811,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

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 dated Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 13.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report 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 target on the stock in a research note on Tuesday. 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 target on the stock. Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lifted 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 analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,323.50.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,728.36 on Wednesday. First Citizens BancShares, Inc. has a one year low of $1,505.73 and a one year high of $2,412.93. 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 stock’s 50 day moving average is $2,107.06 and its 200 day moving average is $2,067.45. The firm has a market cap of $23.47 billion, a P/E ratio of 9.12, a P/E/G ratio of 0.94 and a beta of 0.81.

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 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%. As a group, research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

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.