abrdn plc Boosts Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

abrdn plc grew its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 97.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,809 shares of the bank’s stock after buying an additional 1,877 shares during the quarter. abrdn plc’s holdings in First Citizens BancShares were worth $5,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. CWM LLC boosted its holdings in First Citizens BancShares by 35.5% in the third quarter. CWM LLC now owns 187 shares of the bank’s stock worth $257,000 after purchasing an additional 49 shares during the last quarter. UMB Bank n.a. boosted its holdings in First Citizens BancShares by 1,040.0% in the third quarter. UMB Bank n.a. now owns 57 shares of the bank’s stock worth $79,000 after purchasing an additional 52 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in First Citizens BancShares in the third quarter worth approximately $1,380,000. Commonwealth Equity Services LLC boosted its holdings in First Citizens BancShares by 4.1% in the third quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock worth $419,000 after purchasing an additional 12 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in First Citizens BancShares by 6.0% in the third quarter. Xponance Inc. now owns 548 shares of the bank’s stock worth $756,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the sale, the director now directly owns 4,842 shares in the company, valued at approximately $7,549,113.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Hope Holding Bryant purchased 300 shares of First Citizens BancShares stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the acquisition, the insider now owns 1,978 shares in the company, valued at approximately $2,601,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total transaction of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,388 shares of company stock worth $1,825,220. Insiders own 13.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FCNCA. StockNews.com cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Barclays lifted their price target on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a research note on Friday. DA Davidson reiterated a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Piper Sandler cut shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $1,850.00 to $1,950.00 in a research note on Friday. Finally, Wedbush reiterated an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $1,829.90.

First Citizens BancShares Stock Down 2.5 %

Shares of FCNCA stock opened at $1,754.50 on Friday. The company has a market capitalization of $25.48 billion, a price-to-earnings ratio of 9.74 and a beta of 0.89. First Citizens BancShares, Inc. has a one year low of $945.32 and a one year high of $1,810.03. The company’s fifty day moving average price is $1,582.88 and its 200-day moving average price is $1,480.23. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.14 and a quick ratio of 1.14.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.75%. Sell-side analysts expect that First Citizens BancShares, Inc. will post 179.92 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $1.64 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $6.56 dividend on an annualized basis and a yield of 0.37%. First Citizens BancShares’s dividend payout ratio is currently 3.64%.

First Citizens BancShares Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.