Mawer Investment Management Ltd. Has $11.51 Million Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Mawer Investment Management Ltd. lowered its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 25.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,433 shares of the bank’s stock after selling 2,191 shares during the period. Mawer Investment Management Ltd.’s holdings in First Citizens BancShares were worth $11,510,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FCNCA. Mediolanum International Funds Ltd boosted its holdings in shares of First Citizens BancShares by 43.1% during the 3rd quarter. Mediolanum International Funds Ltd now owns 4,333 shares of the bank’s stock worth $7,790,000 after buying an additional 1,306 shares in the last quarter. UMB Bank n.a. increased its stake in shares of First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock valued at $29,000 after acquiring an additional 8 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of First Citizens BancShares by 8.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 43,787 shares of the bank’s stock valued at $78,341,000 after acquiring an additional 3,587 shares during the period. National Pension Service lifted its position in shares of First Citizens BancShares by 27.8% during the 3rd quarter. National Pension Service now owns 3,051 shares of the bank’s stock valued at $5,459,000 after acquiring an additional 663 shares during the period. Finally, AlphaQuest LLC boosted its stake in First Citizens BancShares by 577.7% during the third quarter. AlphaQuest LLC now owns 759 shares of the bank’s stock worth $1,358,000 after acquiring an additional 647 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $2,069.57 on Monday. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,245.33. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average price of $2,078.48 and a 200-day moving average price of $1,948.56. The company has a market cap of $25.75 billion, a PE ratio of 12.49 and a beta of 0.70.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%.The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s payout ratio is currently 5.07%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group reaffirmed a “buy” rating and issued a $2,500.00 price target on shares of First Citizens BancShares in a research note on Tuesday, January 6th. Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. TD Cowen cut their price target on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a report on Monday, January 26th. The Goldman Sachs Group downgraded First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective for the company. in a report on Tuesday, January 6th. Finally, Raymond James Financial raised First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2,254.18.

Insider Buying and Selling at First Citizens BancShares

In other news, Director Ellen R. Alemany acquired 300 shares of First Citizens BancShares stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the transaction, the director owned 300 shares of the company’s stock, valued at approximately $300,000. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank B. Holding, Jr. acquired 135 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was purchased at an average price of $1,629.67 per share, with a total value of $220,005.45. Following the purchase, the chief executive officer owned 2,527 shares in the company, valued at approximately $4,118,176.09. The trade was a 5.64% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 13.19% of the company’s stock.

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.