Royal London Asset Management Ltd. Has $18.69 Million Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Royal London Asset Management Ltd. decreased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,844 shares of the bank’s stock after selling 26 shares during the period. Royal London Asset Management Ltd. owned about 0.06% of First Citizens BancShares worth $18,688,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock valued at $595,607,000 after acquiring an additional 33,713 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after buying an additional 18,501 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of First Citizens BancShares in the 4th quarter worth approximately $147,341,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of First Citizens BancShares by 15.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after buying an additional 7,613 shares in the last quarter. Finally, Reinhart Partners LLC. raised its holdings in shares of First Citizens BancShares by 2.1% in the 4th quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock worth $122,516,000 after buying an additional 1,183 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

FCNCA opened at $1,851.20 on Friday. The business’s 50-day moving average price is $2,052.67 and its two-hundred day moving average price is $2,054.85. First Citizens BancShares, Inc. has a 1 year low of $1,518.00 and a 1 year high of $2,412.93. The company has a market capitalization of $25.13 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 0.94 and a beta of 0.81. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last released 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%. Equities analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company 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. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s dividend payout ratio is 4.12%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. Barclays increased their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. Piper Sandler upgraded 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 report on Tuesday, March 11th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, Citigroup lowered First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,288.08.

Insider Buying and Selling at First Citizens BancShares

In related news, CFO Craig L. Nix bought 17 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the transaction, the chief financial officer now owns 1,141 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 13.40% of the company’s stock.

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.