First Citizens BancShares, Inc. $FCNCA Shares Sold by Whittier Trust Co.

Whittier Trust Co. cut its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 84.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,209 shares of the bank’s stock after selling 6,455 shares during the period. Whittier Trust Co.’s holdings in First Citizens BancShares were worth $2,331,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Allworth Financial LP boosted its position in First Citizens BancShares by 21.7% during the third quarter. Allworth Financial LP now owns 28 shares of the bank’s stock worth $51,000 after purchasing an additional 5 shares in the last quarter. MBL Wealth LLC raised its stake in shares of First Citizens BancShares by 0.8% during the 4th quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock worth $1,335,000 after buying an additional 5 shares during the period. Venturi Wealth Management LLC raised its stake in shares of First Citizens BancShares by 2.6% during the 1st quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock worth $439,000 after buying an additional 6 shares during the period. Corient Private Wealth LLC lifted its position in shares of First Citizens BancShares by 0.6% during the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after buying an additional 6 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in shares of First Citizens BancShares by 3.0% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 242 shares of the bank’s stock valued at $519,000 after buying an additional 7 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of 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. Citigroup reiterated a “neutral” rating on shares of First Citizens BancShares in a research report on Wednesday, July 1st. The Goldman Sachs Group raised their price target on shares of First Citizens BancShares from $2,100.00 to $2,340.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Hold” and a consensus price target of $2,247.08.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $2,092.43 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s fifty day moving average is $2,025.90 and its two-hundred day moving average is $2,022.74. The firm has a market capitalization of $24.25 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the company earned $37.79 EPS. On average, research analysts anticipate that First Citizens BancShares, Inc. will post 177 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, May 29th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.83%.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. bought 5,940 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the acquisition, the chief executive officer directly owned 38,111 shares of the company’s stock, valued at $65,810,837.02. This trade represents a 18.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 7,190 shares of company stock worth $12,573,868 over the last quarter. 14.63% of the stock is owned by insiders.

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.