Corient Private Wealth LLC Buys 247 Shares of First Citizens BancShares, Inc. $FCNCA

Corient Private Wealth LLC grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 20.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,462 shares of the bank’s stock after acquiring an additional 247 shares during the quarter. Corient Private Wealth LLC’s holdings in First Citizens BancShares were worth $3,138,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in First Citizens BancShares by 117,518.9% in the fourth 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 raised its stake 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 buying an additional 492 shares during the last quarter. Morgan Stanley lifted its holdings in shares of First Citizens BancShares by 31.8% during the 4th 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of First Citizens BancShares by 11.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,317 shares of the bank’s stock valued at $262,514,000 after buying an additional 12,303 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of First Citizens BancShares by 16.3% in the 3rd 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 currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Piper Sandler set a $2,050.00 target price on First Citizens BancShares in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price on the stock. in a research report on Wednesday, April 8th. Wall Street Zen upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, TD Cowen reduced their price target on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $2,215.91.

First Citizens BancShares Trading Down 0.4%

Shares of First Citizens BancShares stock opened at $2,080.89 on Friday. First Citizens BancShares, Inc. has a 1-year low of $1,623.76 and a 1-year high of $2,232.21. The company’s fifty day simple moving average is $2,014.37 and its 200-day simple moving average is $2,020.88. 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 $24.12 billion, a PE ratio of 11.97, a P/E/G ratio of 1.60 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.48% 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 period in the prior year, the business posted $37.79 EPS. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 175.61 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, May 29th. First Citizens BancShares’s payout ratio is currently 4.83%.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. purchased 528 shares of First Citizens BancShares stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $1,813.37 per share, for a total transaction of $957,459.36. Following the completion of the transaction, the chief executive officer directly owned 64,100 shares in the company, valued at $116,237,017. This represents a 0.83% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought a total of 7,190 shares of company stock valued at $12,573,868 in the last three months. Corporate insiders own 14.63% of the company’s stock.

First Citizens BancShares Company Profile

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.