Inspire Investing LLC Sells 81 Shares of First Citizens BancShares, Inc. $FCNCA

Inspire Investing LLC trimmed its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,297 shares of the bank’s stock after selling 81 shares during the quarter. Inspire Investing LLC’s holdings in First Citizens BancShares were worth $2,538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FCNCA. Park Avenue Securities LLC boosted its position in shares of First Citizens BancShares by 11.5% during the first quarter. Park Avenue Securities LLC now owns 551 shares of the bank’s stock worth $1,022,000 after purchasing an additional 57 shares in the last quarter. Farther Finance Advisors LLC lifted its position in First Citizens BancShares by 13.2% in the 1st quarter. Farther Finance Advisors LLC now owns 240 shares of the bank’s stock valued at $438,000 after acquiring an additional 28 shares in the last quarter. SG Americas Securities LLC bought a new stake in First Citizens BancShares in the 1st quarter valued at $3,933,000. Handelsbanken Fonder AB lifted its position in First Citizens BancShares by 6.5% in the 1st quarter. Handelsbanken Fonder AB now owns 3,272 shares of the bank’s stock valued at $6,067,000 after acquiring an additional 200 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its position in First Citizens BancShares by 24.0% in the 1st quarter. Simon Quick Advisors LLC now owns 129 shares of the bank’s stock valued at $239,000 after acquiring an additional 25 shares in the last quarter. 78.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other First Citizens BancShares news, major shareholder Olivia Britton Holding bought 409 shares of the firm’s stock in a transaction on Thursday, August 7th. The shares were purchased at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the transaction, the insider directly owned 1,764 shares in the company, valued at approximately $2,875,320. This trade represents a 30.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank B. Holding, Jr. purchased 600 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were purchased at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the acquisition, the chief executive officer owned 32,300 shares in the company, valued at $54,869,625. This trade represents a 1.89% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,494 shares of company stock worth $2,485,986 in the last quarter. Corporate insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Down 4.2%

First Citizens BancShares stock opened at $1,701.73 on Friday. The stock has a market cap of $21.99 billion, a P/E ratio of 10.04 and a beta of 0.60. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.76. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The company’s 50-day moving average price is $1,886.23 and its two-hundred day moving average price is $1,881.98.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, beating the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.21 billion. As a group, analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, August 29th. First Citizens BancShares’s dividend payout ratio is presently 4.60%.

Wall Street Analyst Weigh In

Several research firms recently commented on FCNCA. Wall Street Zen cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Sunday, September 28th. The Goldman Sachs Group cut their price target on shares of First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Citigroup reissued an “outperform” rating on shares of First Citizens BancShares in a research report on Tuesday. Raymond James Financial set a $2,100.00 price target on shares of First Citizens BancShares in a research report on Tuesday. Finally, UBS Group reissued a “buy” rating and set a $2,410.00 price target on shares of First Citizens BancShares in a research report on Wednesday, July 9th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average price target of $2,227.69.

About First Citizens BancShares

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.