Diversified Trust Co Trims Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Diversified Trust Co lowered its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,084 shares of the bank’s stock after selling 107 shares during the quarter. Diversified Trust Co’s holdings in First Citizens BancShares were worth $1,772,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mather Group LLC. bought a new position in First Citizens BancShares in the first quarter worth approximately $31,000. Blue Trust Inc. grew its stake in First Citizens BancShares by 100.0% in the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after purchasing an additional 10 shares during the last quarter. GAMMA Investing LLC bought a new position in First Citizens BancShares in the fourth quarter worth about $30,000. Principal Securities Inc. purchased a new stake in shares of First Citizens BancShares during the fourth quarter valued at about $43,000. Finally, Riverview Trust Co bought a new stake in shares of First Citizens BancShares in the 1st quarter valued at about $49,000. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler downgraded shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $1,850.00 to $1,950.00 in a report on Friday, April 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $2,100.00 price objective (up from $1,900.00) on shares of First Citizens BancShares in a research note on Friday, April 26th. Barclays boosted their price objective on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. The Goldman Sachs Group began coverage on First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target for the company. Finally, DA Davidson reiterated a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a research note on Monday, April 15th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $1,836.00.

Insider Activity

In related news, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction on 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 in the company, valued at approximately $2,345,955.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other First Citizens BancShares news, Director Ellen R. Alemany sold 1,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 1,335 shares of the company’s stock, valued at approximately $2,345,955.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ellen R. Alemany sold 484 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $1,750.12, for a total value of $847,058.08. Following the completion of the transaction, the director now owns 335 shares in the company, valued at approximately $586,290.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,000 shares of company stock worth $5,273,568. 12.85% of the stock is currently owned by insiders.

First Citizens BancShares Stock Up 0.8 %

FCNCA traded up $13.00 during trading hours on Monday, hitting $1,696.61. 18,781 shares of the company’s stock were exchanged, compared to its average volume of 82,725. The firm has a market cap of $24.65 billion, a P/E ratio of 9.40 and a beta of 0.83. First Citizens BancShares, Inc. has a 12-month low of $1,241.05 and a 12-month high of $1,810.03. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.77. The firm has a 50 day moving average of $1,701.66 and a 200 day moving average of $1,575.10.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, April 25th. The bank reported $52.92 EPS for the quarter, topping the consensus estimate of $44.27 by $8.65. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.30 billion. First Citizens BancShares had a return on equity of 15.48% and a net margin of 18.22%. Analysts predict that First Citizens BancShares, Inc. will post 188.62 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 17th. Stockholders of record on Friday, May 31st were issued a $1.64 dividend. The ex-dividend date 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 payout ratio 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.