Peterson Wealth Services Sells 1,275 Shares of First Citizens BancShares, Inc. $FCNCA

Peterson Wealth Services cut its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 78.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340 shares of the bank’s stock after selling 1,275 shares during the quarter. Peterson Wealth Services’ holdings in First Citizens BancShares were worth $730,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its stake in shares of First Citizens BancShares by 1.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after acquiring an additional 681 shares in the last quarter. Empowered Funds LLC boosted its holdings in First Citizens BancShares by 71.9% in the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after purchasing an additional 164 shares during the period. Focus Partners Wealth boosted its holdings in First Citizens BancShares by 5.2% in the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after purchasing an additional 12 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in First Citizens BancShares by 31.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 88 shares of the bank’s stock valued at $172,000 after purchasing an additional 21 shares during the period. Finally, Flow Traders U.S. LLC bought a new stake in First Citizens BancShares in the 2nd quarter valued at about $260,000. 78.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FCNCA shares. Weiss Ratings downgraded shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft downgraded First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price for the company. in a research report on Wednesday, April 8th. TD Cowen cut their target price on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Piper Sandler set a $2,050.00 price target on shares of First Citizens BancShares in a report on Friday, April 24th. Finally, Keefe, Bruyette & Woods cut their price target on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2,215.91.

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $2,117.01 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,232.21. The company has a market cap of $24.54 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.61 and a beta of 0.62. The business has a fifty day simple moving average of $1,984.20 and a 200 day simple moving average of $2,007.51.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, topping the consensus estimate of $43.31 by $1.55. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.20 billion. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.During the same period in the prior year, the company earned $37.79 EPS. On average, sell-side analysts forecast that First Citizens BancShares, Inc. will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio is presently 4.83%.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. acquired 5,940 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $1,726.82 per share, with a total value of $10,257,310.80. Following the purchase, the chief executive officer directly owned 38,111 shares in the company, valued at approximately $65,810,837.02. This trade represents a 18.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have purchased 7,288 shares of company stock valued at $12,725,768. 14.63% of the stock is owned by corporate insiders.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.