Toth Financial Advisory Corp Sells 58 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Toth Financial Advisory Corp decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 69.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26 shares of the bank’s stock after selling 58 shares during the quarter. Toth Financial Advisory Corp’s holdings in First Citizens BancShares were worth $48,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FCNCA. Nordea Investment Management AB increased its position in shares of First Citizens BancShares by 21.6% during the 1st quarter. Nordea Investment Management AB now owns 29,077 shares of the bank’s stock valued at $47,866,000 after purchasing an additional 5,172 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of First Citizens BancShares by 19.4% in the first quarter. BNP Paribas Financial Markets now owns 3,492 shares of the bank’s stock valued at $5,709,000 after acquiring an additional 568 shares during the period. Bessemer Group Inc. lifted its holdings in shares of First Citizens BancShares by 2,583.3% in the 1st quarter. Bessemer Group Inc. now owns 805 shares of the bank’s stock worth $1,316,000 after acquiring an additional 775 shares during the last quarter. Sei Investments Co. boosted its stake in shares of First Citizens BancShares by 67.5% during the 1st quarter. Sei Investments Co. now owns 6,067 shares of the bank’s stock worth $9,921,000 after purchasing an additional 2,444 shares during the period. Finally, Hennessy Advisors Inc. grew its holdings in First Citizens BancShares by 300.0% during the 1st quarter. Hennessy Advisors Inc. now owns 800 shares of the bank’s stock valued at $1,308,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Trading Down 2.6 %

NASDAQ:FCNCA opened at $2,059.01 on Tuesday. First Citizens BancShares, Inc. has a one year low of $1,290.60 and a one year high of $2,174.80. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $29.92 billion, a P/E ratio of 11.43 and a beta of 0.81. The firm has a 50-day simple moving average of $1,951.62 and a 200-day simple moving average of $1,816.97.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $50.87 EPS for the quarter, beating the consensus estimate of $44.91 by $5.96. First Citizens BancShares had a net margin of 18.19% and a return on equity of 14.84%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the business posted $52.60 EPS. Equities analysts anticipate that First Citizens BancShares, Inc. will post 200 EPS for the current fiscal year.

First Citizens BancShares declared that its board has approved a stock repurchase program on Thursday, July 25th that permits the company to buyback $3.50 billion in shares. This buyback authorization permits the bank to reacquire up to 12.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on FCNCA shares. StockNews.com downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Raymond James upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price objective for the company in a report on Tuesday, July 2nd. Piper Sandler increased their target price on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Wedbush lowered shares of First Citizens BancShares from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $2,450.00 to $2,150.00 in a research note on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2,012.11.

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.