Vanguard Personalized Indexing Management LLC Buys 31 Shares of First Citizens BancShares, Inc. $FCNCA

Vanguard Personalized Indexing Management LLC increased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 879 shares of the bank’s stock after acquiring an additional 31 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in First Citizens BancShares were worth $1,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new position in First Citizens BancShares during the 1st quarter valued at approximately $149,963,000. Egerton Capital UK LLP raised its position in First Citizens BancShares by 21.7% during the 1st quarter. Egerton Capital UK LLP now owns 124,773 shares of the bank’s stock valued at $231,344,000 after purchasing an additional 22,257 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in First Citizens BancShares by 13.1% during 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 purchasing an additional 14,060 shares during the last quarter. JPMorgan Chase & Co. raised its position in First Citizens BancShares by 2.3% during the 1st quarter. JPMorgan Chase & Co. now owns 401,167 shares of the bank’s stock valued at $743,815,000 after purchasing an additional 9,070 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in First Citizens BancShares by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 61,877 shares of the bank’s stock valued at $114,727,000 after purchasing an additional 7,046 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. bought 600 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the acquisition, the chief executive officer owned 32,300 shares in the company, valued at $54,869,625. This trade represents a 1.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Olivia Britton Holding bought 409 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was bought at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the acquisition, the insider owned 1,764 shares in the company, valued at $2,875,320. This trade represents a 30.18% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,494 shares of company stock valued at $2,485,986. 13.40% of the stock is owned by company insiders.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,638.68 on Friday. The business’s fifty day simple moving average is $1,876.04 and its two-hundred day simple moving average is $1,878.26. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.76. 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 market cap of $21.17 billion, a price-to-earnings ratio of 9.67 and a beta of 0.60.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.08 by $5.70. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%. Research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, August 29th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citigroup reiterated an “outperform” rating on shares of First Citizens BancShares in a report on Tuesday, October 7th. Truist Financial reduced their target price on First Citizens BancShares from $2,240.00 to $2,000.00 and set a “hold” rating on the stock in a report on Friday, October 3rd. The Goldman Sachs Group reduced their target price on First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Raymond James Financial set a $2,100.00 target price on First Citizens BancShares in a report on Tuesday, October 7th. Finally, Cowen reiterated a “buy” rating on shares of First Citizens BancShares in a report on Monday, July 28th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,227.69.

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.