American Century Companies Inc. Trims Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

American Century Companies Inc. trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,763 shares of the bank’s stock after selling 100 shares during the quarter. American Century Companies Inc.’s holdings in First Citizens BancShares were worth $5,193,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of First Citizens BancShares by 106.0% in the first quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank’s stock worth $735,855,000 after purchasing an additional 568,929 shares during the last quarter. Wellington Management Group LLP raised its position in First Citizens BancShares by 30.9% during the first quarter. Wellington Management Group LLP now owns 594,276 shares of the bank’s stock valued at $395,550,000 after acquiring an additional 140,410 shares in the last quarter. State Street Corp raised its position in First Citizens BancShares by 53.7% during the first quarter. State Street Corp now owns 402,593 shares of the bank’s stock valued at $267,966,000 after acquiring an additional 140,626 shares in the last quarter. Invesco Ltd. raised its position in First Citizens BancShares by 113.0% during the first quarter. Invesco Ltd. now owns 371,016 shares of the bank’s stock valued at $246,949,000 after acquiring an additional 196,851 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in First Citizens BancShares by 88.8% during the first quarter. Dimensional Fund Advisors LP now owns 268,916 shares of the bank’s stock valued at $179,001,000 after acquiring an additional 126,483 shares in the last quarter. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Citizens BancShares

In related news, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the sale, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the sale, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Olivia Britton Holding acquired 466 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the acquisition, the insider now directly owns 121,694 shares in the company, valued at approximately $160,027,610. The disclosure for this purchase can be found here. Insiders have acquired 1,388 shares of company stock worth $1,825,220 over the last quarter. 13.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. DA Davidson reiterated a “neutral” rating on shares of First Citizens BancShares in a research report on Monday, January 15th. Wedbush reiterated an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a research report on Monday, January 29th. The Goldman Sachs Group started coverage on First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target for the company. UBS Group raised their price objective on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares has an average rating of “Moderate Buy” and an average target price of $1,667.71.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $1,616.88 on Thursday. First Citizens BancShares, Inc. has a one year low of $884.04 and a one year high of $1,625.00. The company has a market cap of $23.48 billion, a price-to-earnings ratio of 2.06 and a beta of 0.88. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. The business’s 50 day moving average price is $1,524.96 and its 200 day moving average price is $1,441.35.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.36 billion. On average, research analysts predict that First Citizens BancShares, Inc. will post 177.52 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $1.64 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 dividend on an annualized basis and a yield of 0.41%. First Citizens BancShares’s dividend payout ratio is currently 0.84%.

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.