Venturi Wealth Management LLC Grows Position in First Citizens BancShares, Inc. $FCNCA

Venturi Wealth Management LLC raised its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 230 shares of the bank’s stock after purchasing an additional 9 shares during the quarter. Venturi Wealth Management LLC’s holdings in First Citizens BancShares were worth $450,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Cresset Asset Management LLC raised its position in shares of First Citizens BancShares by 3.8% in the 1st quarter. Cresset Asset Management LLC now owns 163 shares of the bank’s stock worth $302,000 after acquiring an additional 6 shares in the last quarter. M&T Bank Corp raised its position in shares of First Citizens BancShares by 1.3% in the 1st quarter. M&T Bank Corp now owns 632 shares of the bank’s stock worth $1,172,000 after acquiring an additional 8 shares in the last quarter. Cooper Financial Group raised its position in shares of First Citizens BancShares by 5.5% in the 1st quarter. Cooper Financial Group now owns 154 shares of the bank’s stock worth $286,000 after acquiring an additional 8 shares in the last quarter. Voya Investment Management LLC raised its position in shares of First Citizens BancShares by 0.5% in the 1st quarter. Voya Investment Management LLC now owns 1,668 shares of the bank’s stock worth $3,093,000 after acquiring an additional 8 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in shares of First Citizens BancShares by 32.1% in the 1st quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock worth $67,000 after acquiring an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling at First Citizens BancShares

In other news, major shareholder Olivia Britton Holding purchased 409 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were acquired at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the purchase, the insider owned 1,764 shares in the company, valued at $2,875,320. This trade represents a 30.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hope Holding Bryant purchased 409 shares of the company’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 purchase, the insider owned 1,764 shares in the company, valued at approximately $2,875,320. The trade was a 30.18% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,494 shares of company stock worth $2,485,986. 13.40% of the stock is currently owned by insiders.

First Citizens BancShares Stock Up 1.2%

First Citizens BancShares stock opened at $1,776.47 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50-day simple moving average is $1,890.44 and its two-hundred day simple moving average is $1,883.30. The company has a market cap of $22.95 billion, a PE ratio of 10.48 and a beta of 0.60. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted 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. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, August 29th. First Citizens BancShares’s payout ratio is presently 4.60%.

Analyst Ratings Changes

Several research firms have recently commented on FCNCA. UBS Group reissued a “buy” rating and issued a $2,410.00 price target on shares of First Citizens BancShares in a research report on Wednesday, July 9th. The Goldman Sachs Group reduced their target price on 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. Wall Street Zen lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Sunday, September 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Wednesday. Finally, Raymond James Financial set a $2,100.00 target price on First Citizens BancShares in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,227.69.

First Citizens BancShares Profile

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.