Whittier Trust Co. of Nevada Inc. Reduces Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Whittier Trust Co. of Nevada Inc. lowered its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 89.2% during the first quarter, Holdings Channel reports. The fund owned 316 shares of the bank’s stock after selling 2,597 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in First Citizens BancShares were worth $609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FCNCA. Allworth Financial LP lifted its position in First Citizens BancShares by 21.7% during the third quarter. Allworth Financial LP now owns 28 shares of the bank’s stock valued at $51,000 after purchasing an additional 5 shares during the period. MBL Wealth LLC grew its position in First Citizens BancShares by 0.8% during the 4th quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock worth $1,335,000 after purchasing an additional 5 shares during the period. Venturi Wealth Management LLC raised its stake in shares of First Citizens BancShares by 2.6% during the 1st quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock valued at $439,000 after buying an additional 6 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of First Citizens BancShares by 0.6% in the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after buying an additional 6 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its holdings in shares of First Citizens BancShares by 3.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 242 shares of the bank’s stock valued at $519,000 after buying an additional 7 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $2,092.43 on Wednesday. First Citizens BancShares, Inc. has a 52 week low of $1,623.76 and a 52 week high of $2,232.21. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $24.25 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.60 and a beta of 0.62. The stock’s 50-day moving average price is $2,025.90 and its 200-day moving average price is $2,022.74.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $37.79 EPS. As a group, equities analysts expect that First Citizens BancShares, Inc. will post 177 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, May 29th. First Citizens BancShares’s dividend payout ratio is presently 4.83%.

Analyst Ratings Changes

A number of brokerages have recently commented on FCNCA. Piper Sandler set a $2,050.00 target price on First Citizens BancShares in a research note on Friday, April 24th. Citigroup reissued a “neutral” rating on shares of First Citizens BancShares in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective on the stock. in a research report on Wednesday, April 8th. Weiss Ratings cut shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Finally, Fundamental Research set a $2,350.00 target price on shares of First Citizens BancShares in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2,247.08.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 5,940 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the transaction, the chief executive officer directly owned 38,111 shares of the company’s stock, valued at approximately $65,810,837.02. This represents a 18.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders purchased 7,190 shares of company stock worth $12,573,868. Corporate insiders own 14.63% of the company’s stock.

First Citizens BancShares Company Profile

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.