First Trust Advisors LP Has $67.91 Million Stake in First Citizens BancShares, Inc. $FCNCA

First Trust Advisors LP lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 10.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,708 shares of the bank’s stock after selling 4,032 shares during the period. First Trust Advisors LP’s holdings in First Citizens BancShares were worth $67,905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FCNCA. Norges Bank bought a new stake in First Citizens BancShares in the second quarter valued at $177,604,000. Nuveen LLC bought a new position in shares of First Citizens BancShares during the 1st quarter worth about $149,963,000. JPMorgan Chase & Co. grew its stake in shares of First Citizens BancShares by 4.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 417,088 shares of the bank’s stock valued at $816,022,000 after buying an additional 15,921 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in First Citizens BancShares by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,583 shares of the bank’s stock valued at $225,429,000 after buying an additional 14,060 shares in the last quarter. Finally, Sculptor Capital LP increased its position in First Citizens BancShares by 16.0% in the 1st quarter. Sculptor Capital LP now owns 41,463 shares of the bank’s stock valued at $76,877,000 after buying an additional 5,730 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Trading Up 0.5%

Shares of First Citizens BancShares stock opened at $1,971.82 on Monday. The company has a market capitalization of $24.53 billion, a P/E ratio of 11.66 and a beta of 0.71. The stock has a fifty day simple moving average of $1,805.65 and a 200 day simple moving average of $1,893.97. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $44.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $41.51 by $3.11. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.09%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.21 billion. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 0.4%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, November 28th. First Citizens BancShares’s dividend payout ratio is presently 4.97%.

Insider Transactions at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 135 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was purchased at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the purchase, the chief executive officer owned 2,527 shares in the company, valued at approximately $4,118,176.09. This represents a 5.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ellen R. Alemany bought 300 shares of the company’s stock in a transaction 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 transaction, the director owned 300 shares in the company, valued at approximately $300,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 13.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial increased their price target on First Citizens BancShares from $2,000.00 to $2,050.00 and gave the stock a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings raised First Citizens BancShares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, December 2nd. Barclays reduced their price target on shares of First Citizens BancShares from $2,400.00 to $2,190.00 and set an “equal weight” rating for the company in a research report on Friday, October 24th. Raymond James Financial upgraded shares of First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. Finally, Citigroup dropped their price objective on shares of First Citizens BancShares from $2,250.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, First Citizens BancShares has an average rating of “Moderate Buy” and an average target price of $2,165.83.

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.