AustralianSuper Pty Ltd Trims Stock Position in First Citizens BancShares, Inc. $FCNCA

AustralianSuper Pty Ltd decreased its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 35.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,420 shares of the bank’s stock after selling 1,339 shares during the quarter. AustralianSuper Pty Ltd’s holdings in First Citizens BancShares were worth $4,330,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of First Citizens BancShares by 35.3% in the second quarter. Allworth Financial LP now owns 23 shares of the bank’s stock worth $45,000 after acquiring an additional 6 shares during the last quarter. Personal CFO Solutions LLC increased its position in First Citizens BancShares by 4.0% during the second quarter. Personal CFO Solutions LLC now owns 156 shares of the bank’s stock worth $305,000 after purchasing an additional 6 shares during the last quarter. Corient Private Wealth LLC raised its stake in First Citizens BancShares by 0.6% during the second quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock worth $2,051,000 after purchasing an additional 6 shares during the period. US Bancorp DE boosted its holdings in shares of First Citizens BancShares by 0.8% in the 2nd quarter. US Bancorp DE now owns 873 shares of the bank’s stock valued at $1,708,000 after purchasing an additional 7 shares during the last quarter. Finally, Greenleaf Trust grew its stake in shares of First Citizens BancShares by 2.0% during the 3rd quarter. Greenleaf Trust now owns 416 shares of the bank’s stock valued at $744,000 after buying an additional 8 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Raymond James Financial raised First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. Keefe, Bruyette & Woods dropped their price target on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Citigroup restated a “buy” rating on shares of First Citizens BancShares in a report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. Finally, Truist Financial increased their target price on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average price target of $2,254.18.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $2,069.57 on Friday. The firm has a market capitalization of $25.75 billion, a PE ratio of 12.49 and a beta of 0.69. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,245.33. The stock’s 50 day moving average price is $2,078.48 and its 200 day moving average price is $1,950.42. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. As a group, sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $2.10 dividend. The ex-dividend date is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s payout ratio is currently 5.07%.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany purchased 300 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average price of $1,000.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director owned 300 shares in the company, valued at $300,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frank B. Holding, Jr. purchased 135 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average cost of $1,629.67 per share, with a total value of $220,005.45. Following the acquisition, the chief executive officer directly owned 2,527 shares of the company’s stock, valued at $4,118,176.09. The trade was a 5.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 13.40% of the company’s stock.

First Citizens BancShares 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.