Corient Private Wealth LLC Sells 306 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Corient Private Wealth LLC reduced its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,271 shares of the bank’s stock after selling 306 shares during the quarter. Corient Private Wealth LLC’s holdings in First Citizens BancShares were worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. grew its position in shares of First Citizens BancShares by 45.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 235 shares of the bank’s stock worth $496,000 after purchasing an additional 73 shares in the last quarter. Natixis Advisors LLC grew its holdings in First Citizens BancShares by 6.7% during the 4th quarter. Natixis Advisors LLC now owns 23,855 shares of the bank’s stock valued at $50,406,000 after buying an additional 1,489 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in First Citizens BancShares by 23.7% during the 4th quarter. Picton Mahoney Asset Management now owns 6,419 shares of the bank’s stock valued at $13,564,000 after buying an additional 1,230 shares in the last quarter. Midwest Professional Planners LTD. raised its position in shares of First Citizens BancShares by 18.1% during the fourth quarter. Midwest Professional Planners LTD. now owns 834 shares of the bank’s stock valued at $1,762,000 after buying an additional 128 shares during the last quarter. Finally, Tredje AP fonden lifted its holdings in shares of First Citizens BancShares by 444.1% in the fourth quarter. Tredje AP fonden now owns 6,034 shares of the bank’s stock worth $12,750,000 after buying an additional 4,925 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Up 0.4 %

NASDAQ FCNCA opened at $1,851.20 on Monday. First Citizens BancShares, Inc. has a 52 week low of $1,518.00 and a 52 week high of $2,412.93. The firm has a market capitalization of $25.13 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.94 and a beta of 0.81. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The company has a fifty day moving average of $2,052.67 and a two-hundred day moving average of $2,055.75.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.42%. First Citizens BancShares’s payout ratio is 4.12%.

Insider Buying and Selling

In related news, CFO Craig L. Nix acquired 17 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the acquisition, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at $2,146,369.33. This represents a 1.51 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FCNCA shares. Keefe, Bruyette & Woods raised their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price on the stock. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. raised their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Finally, Barclays upped their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average price target of $2,288.08.

First Citizens BancShares Company 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.