First Citizens BancShares, Inc. $FCNCA Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 884,479 shares of the bank’s stock after selling 35,116 shares during the period. Vanguard Group Inc. owned 6.85% of First Citizens BancShares worth $1,582,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCNCA. SBI Securities Co. Ltd. acquired a new stake in shares of First Citizens BancShares in the third quarter worth approximately $27,000. UMB Bank n.a. raised its stake in First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after purchasing an additional 8 shares during the period. Steph & Co. acquired a new position in shares of First Citizens BancShares in the 3rd quarter valued at $32,000. Root Financial Partners LLC acquired a new position in shares of First Citizens BancShares in the 3rd quarter valued at $32,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of First Citizens BancShares by 280.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,016.58 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,232.21. The firm has a market cap of $25.08 billion, a P/E ratio of 12.17 and a beta of 0.70. The stock has a 50-day simple moving average of $2,115.99 and a 200-day simple moving average of $1,951.60.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%.The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $2.24 billion. On average, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $2.10 dividend. The ex-dividend date is Friday, February 27th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio is 5.07%.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. Truist Financial raised their price objective on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods decreased their target price on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a report on Friday, October 24th. Zacks Research downgraded shares of First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. Finally, UBS Group set a $2,325.00 price target on shares of First Citizens BancShares in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, First Citizens BancShares has an average rating of “Moderate Buy” and an average target price of $2,238.27.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. purchased 135 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average price of $1,629.67 per share, with a total value of $220,005.45. Following the purchase, the chief executive officer directly owned 2,527 shares of the company’s stock, valued at approximately $4,118,176.09. This represents a 5.64% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.