First Citizens BancShares, Inc. $FCNCA Shares Sold by Impact Investors Inc

Impact Investors Inc lowered its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 64.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of First Citizens BancShares by 117,518.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after acquiring an additional 205,658 shares in the last quarter. Norges Bank purchased a new stake in shares of First Citizens BancShares during the 4th quarter worth $116,565,000. River Road Asset Management LLC boosted its position in shares of First Citizens BancShares by 574.0% during the 4th 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 in the last quarter. Orion Porfolio Solutions LLC grew its stake in shares of First Citizens BancShares by 2,057.4% during the 2nd 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 increased 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 in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Down 2.3%

Shares of First Citizens BancShares stock opened at $2,044.62 on Thursday. First Citizens BancShares, Inc. has a 1 year low of $1,623.76 and a 1 year high of $2,232.21. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day moving average price of $2,027.32 and a 200 day moving average price of $2,022.30. The company has a market capitalization of $23.70 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.58 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.20 billion. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.During the same quarter in the prior year, the firm earned $37.79 EPS. Sell-side analysts anticipate that First Citizens BancShares, Inc. will post 177 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a report on Friday, April 24th. The Goldman Sachs Group boosted their price target on First Citizens BancShares from $2,100.00 to $2,340.00 and gave the stock a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price target on the stock. in a report on Wednesday, April 8th. TD Cowen reduced their price objective on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2,247.08.

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. acquired 528 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $1,813.37 per share, with a total value of $957,459.36. Following the completion of the transaction, the chief executive officer directly owned 64,100 shares in the company, valued at approximately $116,237,017. This represents a 0.83% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have bought 7,190 shares of company stock worth $12,573,868 in the last ninety days. Insiders own 14.63% of the company’s stock.

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.