Vinva Investment Management Ltd Sells 32 Shares of First Citizens BancShares, Inc. $FCNCA

Vinva Investment Management Ltd lessened its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 21.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 118 shares of the bank’s stock after selling 32 shares during the period. Vinva Investment Management Ltd’s holdings in First Citizens BancShares were worth $231,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FCNCA. Choreo LLC lifted its stake in First Citizens BancShares by 47.2% in the second quarter. Choreo LLC now owns 315 shares of the bank’s stock worth $616,000 after purchasing an additional 101 shares during the last quarter. Inceptionr LLC bought a new position in shares of First Citizens BancShares during the second quarter valued at approximately $325,000. Advisors Asset Management Inc. raised its holdings in shares of First Citizens BancShares by 39.2% in the second quarter. Advisors Asset Management Inc. now owns 277 shares of the bank’s stock worth $542,000 after buying an additional 78 shares during the period. XTX Topco Ltd lifted its stake in shares of First Citizens BancShares by 127.2% during the 2nd quarter. XTX Topco Ltd now owns 1,079 shares of the bank’s stock worth $2,111,000 after acquiring an additional 604 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in First Citizens BancShares by 19.0% during the 2nd quarter. Prudential Financial Inc. now owns 870 shares of the bank’s stock valued at $1,702,000 after acquiring an additional 139 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Down 0.6%

FCNCA opened at $1,878.48 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.76. The firm has a market cap of $23.36 billion, a price-to-earnings ratio of 11.11 and a beta of 0.75. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The stock has a fifty day moving average price of $1,797.10 and a 200-day moving average price of $1,894.04.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, October 23rd. The bank reported $44.62 EPS for the quarter, topping analysts’ consensus estimates of $41.51 by $3.11. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.06%. As a group, equities research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, November 28th. First Citizens BancShares’s payout ratio is 4.97%.

Analysts Set New Price Targets

A number of analysts have weighed in on FCNCA shares. 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 note on Monday, October 6th. UBS Group raised their price target on shares of First Citizens BancShares from $2,200.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Citigroup decreased their price objective on shares of First Citizens BancShares from $2,250.00 to $2,000.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Piper Sandler dropped their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Finally, Wall Street Zen lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Sunday, September 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,165.83.

Insiders Place Their Bets

In other news, Director Ellen R. Alemany purchased 300 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were acquired at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the director owned 300 shares of the company’s stock, valued at $300,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.40% of the stock is currently owned by company insiders.

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.