Impact Investors Inc Trims Stock Position in First Citizens BancShares, Inc. $FCNCA

Impact Investors Inc trimmed its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 64.2% during the first quarter, Holdings Channel reports. The institutional investor owned 156 shares of the bank’s stock after selling 280 shares during the period. Impact Investors Inc’s holdings in First Citizens BancShares were worth $294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FCNCA. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First Citizens BancShares by 117,518.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock worth $441,755,000 after acquiring an additional 205,658 shares during the period. Norges Bank purchased a new stake in First Citizens BancShares in the fourth quarter valued at approximately $116,565,000. River Road Asset Management LLC increased its position in First Citizens BancShares by 574.0% during the fourth quarter. River Road Asset Management LLC now owns 55,402 shares of the bank’s stock worth $118,903,000 after purchasing an additional 47,182 shares during the last quarter. Orion Porfolio Solutions LLC raised its stake in First Citizens BancShares by 2,057.4% during the second quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock worth $92,944,000 after purchasing an additional 45,304 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of First Citizens BancShares by 13,512.7% in the 4th quarter. M&T Bank Corp now owns 38,524 shares of the bank’s stock valued at $82,679,000 after purchasing an additional 38,241 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $2,044.62 on Thursday. The firm has a market capitalization of $23.70 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.58 and a beta of 0.62. First Citizens BancShares, Inc. has a one year low of $1,623.76 and a one year high of $2,232.21. The stock’s 50 day moving average price is $2,027.32 and its 200 day moving average price is $2,022.30. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.20 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. During the same period in the previous year, the company posted $37.79 earnings per share. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 177 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Friday, May 29th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s payout ratio is currently 4.83%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Fundamental Research set a $2,350.00 price objective on First Citizens BancShares in a report on Wednesday, July 1st. Weiss Ratings downgraded First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective on the stock. in a research note on Wednesday, April 8th. Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Citigroup restated a “neutral” rating on shares of First Citizens BancShares in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2,247.08.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 528 shares of First Citizens BancShares stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $1,813.37 per share, for a total transaction of $957,459.36. Following the purchase, the chief executive officer 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 legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 7,190 shares of company stock worth $12,573,868. 14.63% of the stock is owned by insiders.

First Citizens BancShares 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.