Intech Investment Management LLC Sells 387 Shares of First Citizens BancShares, Inc. $FCNCA

Intech Investment Management LLC reduced its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 29.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 930 shares of the bank’s stock after selling 387 shares during the period. Intech Investment Management LLC’s holdings in First Citizens BancShares were worth $1,996,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Allworth Financial LP grew its position in First Citizens BancShares by 21.7% during the third quarter. Allworth Financial LP now owns 28 shares of the bank’s stock valued at $51,000 after acquiring an additional 5 shares during the last quarter. MBL Wealth LLC grew its position in First Citizens BancShares by 0.8% during the fourth quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock valued at $1,335,000 after acquiring an additional 5 shares during the last quarter. Alteri Wealth LLC boosted its stake in shares of First Citizens BancShares by 4.1% during the third quarter. Alteri Wealth LLC now owns 154 shares of the bank’s stock valued at $276,000 after purchasing an additional 6 shares during the period. Fifth Third Bancorp boosted its stake in shares of First Citizens BancShares by 40.0% during the third quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after purchasing an additional 6 shares during the period. Finally, Corient Private Wealth LLC boosted its position in First Citizens BancShares by 0.6% during the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after buying an additional 6 shares during the period. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Down 2.1%

FCNCA stock opened at $1,955.08 on Thursday. 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 quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. The stock has a market cap of $22.66 billion, a P/E ratio of 11.24, a PEG ratio of 1.52 and a beta of 0.62. The business’s 50-day moving average price is $1,957.58 and its 200-day moving average price is $1,996.42.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data 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 return on equity of 11.48% and a net margin of 15.62%.The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm earned $37.79 EPS. On average, equities research analysts forecast that First Citizens BancShares, Inc. will post 177.84 EPS for the current year.

First Citizens BancShares Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCNCA. Weiss Ratings lowered shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. TD Cowen cut their price target on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Finally, JPMorgan Chase & Co. lowered their price target on First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, First Citizens BancShares currently has an average rating of “Hold” and an average price target of $2,215.91.

Insiders Place Their Bets

In related news, CEO Frank B. Holding, Jr. sold 5,346 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total transaction of $10,257,316.74. Following the sale, the chief executive officer owned 100,654 shares in the company, valued at approximately $193,123,823.26. This represents a 5.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders acquired 6,187 shares of company stock worth $10,640,161. Corporate insiders own 14.63% of the company’s stock.

About First Citizens BancShares

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.