First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 30.1% in the 4th quarter, HoldingsChannel reports. The firm owned 1,741 shares of the bank’s stock after selling 750 shares during the quarter. Inspire Investing LLC’s holdings in First Citizens BancShares were worth $3,679,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of FCNCA. FMR LLC grew its stake in First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after acquiring an additional 33,713 shares during the period. JPMorgan Chase & Co. grew its stake in 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 acquiring an additional 18,501 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 acquiring an additional 7,613 shares during the period. Reinhart Partners LLC. grew its stake in 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 acquiring an additional 1,183 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in First Citizens BancShares by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,156 shares of the bank’s stock worth $86,812,000 after acquiring an additional 1,339 shares during the period. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FCNCA shares. The Goldman Sachs Group upped their price objective on 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. Deutsche Bank Aktiengesellschaft began coverage on First Citizens BancShares in a research note on Monday, December 9th. They set a “buy” rating and a $2,600.00 price target for the company. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday, January 16th. UBS Group began 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 for the company. Finally, Barclays upped their price target on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,290.75.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,218.11 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 1 year low of $1,383.00 and a 1 year high of $2,388.78. The firm has a market cap of $31.03 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 1.03 and a beta of 0.86. The stock has a 50-day simple moving average of $2,169.63 and a 200-day simple moving average of $2,028.74.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same period in the prior year, the company posted $55.92 EPS. On average, equities analysts predict that First Citizens BancShares, Inc. will post 187.95 earnings per share for the current fiscal year.

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.