Whittier Trust Co. Grows Stake in First Citizens BancShares, Inc. $FCNCA

Whittier Trust Co. raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.9% during the third quarter, HoldingsChannel.com reports. The firm owned 7,323 shares of the bank’s stock after buying an additional 344 shares during the period. Whittier Trust Co.’s holdings in First Citizens BancShares were worth $12,908,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tranquility Partners LLC purchased a new stake in First Citizens BancShares in the third quarter valued at about $286,000. Rakuten Investment Management Inc. purchased a new stake in shares of First Citizens BancShares during the third quarter worth about $46,540,000. Allegiance Financial Group Advisory Services LLC increased its holdings in shares of First Citizens BancShares by 14.7% during the third quarter. Allegiance Financial Group Advisory Services LLC now owns 1,186 shares of the bank’s stock valued at $2,122,000 after acquiring an additional 152 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of First Citizens BancShares in the 3rd quarter valued at approximately $32,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of First Citizens BancShares in the 3rd quarter valued at approximately $234,000. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Down 8.5%

First Citizens BancShares stock opened at $2,016.56 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The firm has a market cap of $25.09 billion, a PE ratio of 12.17 and a beta of 0.69. The stock’s 50 day simple moving average is $2,058.68 and its two-hundred day simple moving average is $1,951.86. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, beating analysts’ consensus estimates 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 $2.25 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio is currently 4.97%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FCNCA. Wall Street Zen lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Sunday, September 28th. Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research report on Monday. Barclays set a $2,346.00 price objective on First Citizens BancShares in a report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. Finally, The Goldman Sachs Group downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target on the stock. in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,240.55.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany purchased 300 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $1,000.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director owned 300 shares of the company’s stock, valued at $300,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Frank B. Holding, Jr. acquired 135 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were acquired at an average cost of $1,629.67 per share, with a total value of $220,005.45. Following the purchase, the chief executive officer owned 2,527 shares in the company, valued at $4,118,176.09. This represents a 5.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 13.19% 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.