Waverly Advisors LLC Trims Position in First Citizens BancShares, Inc. $FCNCA

Waverly Advisors LLC trimmed its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 50.8% during the 2nd quarter, Holdings Channel reports. The firm owned 1,452 shares of the bank’s stock after selling 1,497 shares during the period. Waverly Advisors LLC’s holdings in First Citizens BancShares were worth $3,021,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new stake in First Citizens BancShares in the 4th quarter worth $26,000. Jones Financial Companies Lllp bought a new stake in First Citizens BancShares during the second quarter valued at about $42,000. Reflection Asset Management purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at about $45,000. Global Assets Advisory LLC purchased a new position in shares of First Citizens BancShares in the first quarter valued at about $45,000. Finally, UMB Bank n.a. lifted its position in shares of First Citizens BancShares by 50.0% in the fourth quarter. UMB Bank n.a. now owns 24 shares of the bank’s stock valued at $52,000 after acquiring an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, Director Diane Morais bought 50 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average cost of $2,168.11 per share, with a total value of $108,405.50. Following the completion of the acquisition, the director owned 100 shares in the company, valued at $216,811. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 14.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FCNCA. JPMorgan Chase & Co. increased their target price on First Citizens BancShares from $2,350.00 to $2,450.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Fundamental Research set a $2,350.00 price target on First Citizens BancShares in a research note on Wednesday, July 1st. The Goldman Sachs Group increased their price objective on shares of First Citizens BancShares from $2,100.00 to $2,340.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Barclays boosted their target price on shares of First Citizens BancShares from $2,346.00 to $2,376.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $2,278.31.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $2,173.00 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $24.53 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.64 and a beta of 0.60. First Citizens BancShares, Inc. has a 12 month low of $1,623.76 and a 12 month high of $2,296.30. The business’s 50-day moving average is $2,168.43 and its 200 day moving average is $2,041.40.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share for the quarter, beating the consensus estimate of $0.41 by $56.68. First Citizens BancShares had a return on equity of 12.07% and a net margin of 16.28%.The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.16 billion. On average, equities research analysts forecast that First Citizens BancShares, Inc. will post 192.11 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, August 31st. First Citizens BancShares’s dividend payout ratio is currently 4.49%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the financial holding company for First-Citizens Bank & Trust Company, which operates under the First Citizens Bank name. Headquartered in Raleigh, North Carolina, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit cards, cash-management and treasury services, investment services, and wealth management.