First Bank & Trust Grows Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

First Bank & Trust grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245 shares of the bank’s stock after purchasing an additional 13 shares during the quarter. First Bank & Trust’s holdings in First Citizens BancShares were worth $401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC grew its holdings in shares of First Citizens BancShares by 12.4% during the third quarter. HighTower Advisors LLC now owns 418 shares of the bank’s stock valued at $580,000 after buying an additional 46 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of First Citizens BancShares during the third quarter valued at $213,000. Envestnet Asset Management Inc. grew its holdings in shares of First Citizens BancShares by 48.5% during the third quarter. Envestnet Asset Management Inc. now owns 10,305 shares of the bank’s stock valued at $14,221,000 after buying an additional 3,366 shares during the last quarter. Invesco Ltd. grew its holdings in shares of First Citizens BancShares by 34.3% during the third quarter. Invesco Ltd. now owns 20,599 shares of the bank’s stock valued at $28,429,000 after buying an additional 5,258 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of First Citizens BancShares by 49.5% during the third quarter. Mariner LLC now owns 713 shares of the bank’s stock valued at $985,000 after buying an additional 236 shares during the last quarter. 61.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $1,757.27, for a total transaction of $1,757,270.00. Following the completion of the transaction, the director now owns 1,335 shares in the company, valued at approximately $2,345,955.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Ellen R. Alemany sold 516 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $1,750.00, for a total transaction of $903,000.00. Following the completion of the transaction, the director now owns 819 shares in the company, valued at approximately $1,433,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $1,757.27, for a total transaction of $1,757,270.00. Following the sale, the director now directly owns 1,335 shares of the company’s stock, valued at approximately $2,345,955.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,000 shares of company stock worth $5,273,568. Company insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FCNCA shares. The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective on the stock. Barclays boosted their target price on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Piper Sandler downgraded shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $1,850.00 to $1,950.00 in a research report on Friday, April 26th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $2,100.00 target price (up from $1,900.00) on shares of First Citizens BancShares in a research report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Citizens BancShares currently has an average rating of “Hold” and a consensus price target of $1,836.00.

First Citizens BancShares Trading Up 0.2 %

Shares of First Citizens BancShares stock opened at $1,683.61 on Friday. The firm has a 50-day simple moving average of $1,701.66 and a two-hundred day simple moving average of $1,574.41. The company has a market cap of $24.46 billion, a P/E ratio of 9.35 and a beta of 0.84. First Citizens BancShares, Inc. has a fifty-two week low of $1,232.00 and a fifty-two week high of $1,810.03. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.10.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $52.92 earnings per share for the quarter, topping analysts’ consensus estimates of $44.27 by $8.65. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.30 billion. First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.48%. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 188.62 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a $1.64 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.39%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.64%.

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.