First Citizens BancShares, Inc. $FCNCA Position Increased by Barr E S & Co.

Barr E S & Co. raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 33.2% in the 4th quarter, Holdings Channel reports. The firm owned 5,995 shares of the bank’s stock after purchasing an additional 1,495 shares during the quarter. First Citizens BancShares comprises about 0.7% of Barr E S & Co.’s investment portfolio, making the stock its 27th biggest holding. Barr E S & Co.’s holdings in First Citizens BancShares were worth $12,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares during the third quarter valued at $27,000. Harbor Investment Advisory LLC lifted its holdings in First Citizens BancShares by 150.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after purchasing an additional 9 shares during the period. UMB Bank n.a. lifted its holdings in First Citizens BancShares by 100.0% in 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. Root Financial Partners LLC acquired a new stake in First Citizens BancShares in the third quarter worth about $32,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in First Citizens BancShares by 280.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock worth $34,000 after purchasing an additional 14 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,928.39 on Friday. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,232.21. The company has a current ratio of 1.00, a quick ratio of 1.03 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.47 and a beta of 0.63. The firm has a 50-day moving average of $1,922.03 and a two-hundred day moving average of $1,979.49.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company earned $37.79 EPS. As a group, analysts expect that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio is currently 4.83%.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. sold 5,346 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $1,918.69, for a total transaction of $10,257,316.74. Following the completion of the sale, the chief executive officer directly owned 100,654 shares of the company’s stock, valued at approximately $193,123,823.26. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 6,198 shares of company stock worth $10,661,547 over the last ninety days. 14.63% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective for the company. in a report on Wednesday, April 8th. Piper Sandler set a $2,050.00 price target on shares of First Citizens BancShares in a report on Friday, April 24th. Citigroup reissued a “neutral” rating on shares of First Citizens BancShares in a report on Friday, April 24th. UBS Group set a $2,325.00 price target on shares of First Citizens BancShares in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Hold” and a consensus target price of $2,202.08.

First Citizens BancShares Company 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.