Hsbc Holdings PLC Has $18.37 Million Stake in First Citizens BancShares, Inc. $FCNCA

Hsbc Holdings PLC reduced its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 18.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,551 shares of the bank’s stock after selling 1,959 shares during the quarter. Hsbc Holdings PLC owned 0.07% of First Citizens BancShares worth $18,369,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of First Citizens BancShares by 117,518.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock worth $441,755,000 after purchasing an additional 205,658 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in First Citizens BancShares by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 124,061 shares of the bank’s stock valued at $266,273,000 after purchasing an additional 492 shares during the last quarter. Morgan Stanley boosted its position in First Citizens BancShares by 31.8% in the fourth quarter. Morgan Stanley now owns 123,048 shares of the bank’s stock valued at $264,087,000 after buying an additional 29,681 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in First Citizens BancShares by 11.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,317 shares of the bank’s stock worth $262,514,000 after buying an additional 12,303 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in First Citizens BancShares by 16.3% during the third quarter. Alliancebernstein L.P. now owns 78,310 shares of the bank’s stock worth $140,109,000 after buying an additional 10,948 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings downgraded First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Citigroup restated a “neutral” rating on shares of First Citizens BancShares in a report on Friday, April 24th. Piper Sandler set a $2,050.00 target price on First Citizens BancShares in a research note on Friday, April 24th. Keefe, Bruyette & Woods cut their price target on First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a report on Thursday, April 9th. Finally, Zacks Research upgraded shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Citizens BancShares has a consensus rating of “Hold” and a consensus target price of $2,215.91.

First Citizens BancShares Stock Performance

FCNCA stock opened at $2,089.21 on Friday. The company has a 50 day moving average price of $2,012.49 and a 200 day moving average price of $2,020.46. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $24.21 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.63 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.During the same period last year, the company earned $37.79 EPS. Analysts forecast that First Citizens BancShares, Inc. will post 175.61 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid 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 was Friday, May 29th. First Citizens BancShares’s dividend payout ratio is 4.83%.

Insider Transactions at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. purchased 5,940 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the completion of the acquisition, the chief executive officer directly owned 38,111 shares in the company, valued at approximately $65,810,837.02. The trade was a 18.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 7,190 shares of company stock valued at $12,573,868 in the last quarter. 14.63% of the stock is owned by company insiders.

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.