Founders Financial Alliance LLC Sells 249 Shares of First Citizens BancShares, Inc. $FCNCA

Founders Financial Alliance LLC lessened its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,283 shares of the bank’s stock after selling 249 shares during the period. Founders Financial Alliance LLC’s holdings in First Citizens BancShares were worth $2,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of FCNCA. Goldman Sachs Group Inc. increased its holdings in First Citizens BancShares by 1.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after buying an additional 681 shares during the period. Empowered Funds LLC increased 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 buying an additional 164 shares during the period. Focus Partners Wealth increased 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 buying an additional 12 shares during the period. EverSource Wealth Advisors LLC increased 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 buying 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 $260,000. Institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. acquired 528 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $1,813.37 per share, with a total value of $957,459.36. Following the acquisition, the chief executive officer directly owned 64,100 shares in the company, valued at $116,237,017. The trade was a 0.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have bought 7,288 shares of company stock worth $12,725,768. 14.63% of the stock is owned by corporate insiders.

First Citizens BancShares Stock Up 0.2%

FCNCA opened at $2,117.01 on Friday. The firm’s 50-day simple moving average is $1,984.20 and its 200-day simple moving average is $2,007.51. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,232.21. The firm has a market cap of $24.54 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.61 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results 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. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the firm earned $37.79 EPS. Equities research analysts anticipate 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. Shareholders of record on Friday, May 29th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio is currently 4.83%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FCNCA shares. Piper Sandler set a $2,050.00 target price on shares of First Citizens BancShares in a report on Friday, April 24th. Weiss Ratings lowered shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. TD Cowen lowered their target price on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, First Citizens BancShares presently has an average rating of “Hold” and a consensus price target of $2,215.91.

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.