Hsbc Holdings PLC Sells 3,711 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Hsbc Holdings PLC decreased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 19.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,469 shares of the bank’s stock after selling 3,711 shares during the period. Hsbc Holdings PLC owned approximately 0.11% of First Citizens BancShares worth $32,700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Life Planners acquired a new position in First Citizens BancShares in the 4th quarter valued at $33,000. Hemington Wealth Management increased its position in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares during the period. Duncker Streett & Co. Inc. acquired a new position in First Citizens BancShares in the fourth quarter valued at about $36,000. Mather Group LLC. lifted its position in First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after purchasing an additional 5 shares during the period. Finally, Asset Planning Inc bought a new stake in First Citizens BancShares during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CFO Craig L. Nix acquired 17 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the transaction, the chief financial officer now owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 13.19% of the stock is owned by corporate insiders.

First Citizens BancShares Stock Down 0.6 %

Shares of NASDAQ FCNCA opened at $1,779.26 on Friday. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market cap of $24.16 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The company has a 50 day simple moving average of $1,816.51 and a 200 day simple moving average of $2,024.68.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping analysts’ consensus estimates of $37.72 by $0.07. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.44%. First Citizens BancShares’s payout ratio is 4.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Truist Financial boosted their target price on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods boosted their price objective on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price on the stock in a report on Tuesday, March 11th. Barclays lowered their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,330.82.

First Citizens BancShares Company 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.