Pictet Asset Management Holding SA Sells 535 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Pictet Asset Management Holding SA reduced its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,376 shares of the bank’s stock after selling 535 shares during the quarter. Pictet Asset Management Holding SA’s holdings in First Citizens BancShares were worth $13,473,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of FCNCA. Financial Life Planners purchased a new position in First Citizens BancShares in the 4th quarter worth $33,000. Hemington Wealth Management increased its holdings in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after buying an additional 6 shares during the period. Duncker Streett & Co. Inc. bought a new stake in shares of First Citizens BancShares in the 4th quarter valued at about $36,000. Mather Group LLC. boosted its holdings in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares during the period. Finally, Asset Planning Inc purchased a new position in First Citizens BancShares in the 4th quarter worth approximately $38,000. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Down 1.7 %

NASDAQ:FCNCA opened at $1,823.47 on Wednesday. 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’s 50-day moving average price is $2,010.73 and its 200-day moving average price is $2,055.68. The company has a market capitalization of $24.76 billion, a PE ratio of 9.63, a P/E/G ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a 1-year low of $1,518.00 and a 1-year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.12%.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction dated 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 purchase, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.40% of the company’s stock.

Analysts Set New Price Targets

FCNCA has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. Barclays raised their price target on shares of First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Truist Financial increased their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. UBS Group initiated coverage on First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target on the stock. Finally, StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus price target of $2,288.08.

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.