Oppenheimer Asset Management Inc. Lowers Holdings in First Citizens BancShares, Inc. $FCNCA

Oppenheimer Asset Management Inc. decreased its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.5% in the fourth quarter, Holdings Channel reports. The firm owned 1,267 shares of the bank’s stock after selling 306 shares during the period. Oppenheimer Asset Management Inc.’s holdings in First Citizens BancShares were worth $2,719,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of First Citizens BancShares in the third quarter valued at approximately $27,000. Harbor Investment Advisory LLC boosted its holdings in shares of First Citizens BancShares by 150.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock valued at $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% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after buying an additional 8 shares during the period. Root Financial Partners LLC purchased a new stake in First Citizens BancShares during the third quarter worth $32,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in First Citizens BancShares by 280.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock worth $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.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 92 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was purchased at an average price of $1,550.00 per share, for a total transaction of $142,600.00. Following the acquisition, the chief executive officer owned 2,841 shares in the company, valued at approximately $4,403,550. This trade represents a 3.35% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders acquired 258 shares of company stock worth $404,236. Corporate insiders own 14.63% of the company’s stock.

First Citizens BancShares Stock Down 1.6%

First Citizens BancShares stock opened at $1,954.45 on Tuesday. The business has a fifty day moving average of $1,926.86 and a two-hundred day moving average of $1,967.66. The firm has a market cap of $23.33 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.53 and a beta of 0.63. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.37% and a net margin of 15.62%.The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the business posted $37.79 EPS. On average, analysts forecast that First Citizens BancShares, Inc. will post 176.04 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm 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 is Friday, May 29th. First Citizens BancShares’s dividend payout ratio is currently 4.83%.

Analyst Ratings Changes

A number of analysts have weighed in on FCNCA shares. Piper Sandler set a $2,050.00 target price on First Citizens BancShares in a report on Friday, April 24th. Zacks Research upgraded First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. The Goldman Sachs Group lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 target price for the company. in a report on Tuesday, January 6th. Citigroup restated a “neutral” rating on shares of First Citizens BancShares in a report on Friday, April 24th. Finally, Truist Financial upped their target price 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2,202.08.

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.