Blue Trust Inc. Trims Position in First Citizens BancShares, Inc. $FCNCA

Blue Trust Inc. lowered its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 37.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66 shares of the bank’s stock after selling 40 shares during the period. Blue Trust Inc.’s holdings in First Citizens BancShares were worth $129,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SVB Wealth LLC bought a new position in shares of First Citizens BancShares in the 1st quarter worth about $35,000. Community Bank N.A. bought a new stake in shares of First Citizens BancShares in the 1st quarter worth approximately $44,000. Wayfinding Financial LLC bought a new stake in shares of First Citizens BancShares in the 1st quarter worth approximately $64,000. Brooklyn Investment Group grew its position in First Citizens BancShares by 32.1% during the first quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock valued at $67,000 after purchasing an additional 9 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its position in First Citizens BancShares by 32.5% during the second quarter. Toth Financial Advisory Corp now owns 53 shares of the bank’s stock valued at $104,000 after purchasing an additional 13 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

First Citizens BancShares Trading Down 6.2%

Shares of First Citizens BancShares stock opened at $1,638.68 on Friday. The stock has a market cap of $21.17 billion, a PE ratio of 9.67 and a beta of 0.60. The firm has a 50-day moving average of $1,876.04 and a 200-day moving average of $1,878.26. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,412.93. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Friday, July 25th. The bank reported $44.78 EPS for the quarter, beating analysts’ consensus estimates of $39.08 by $5.70. The business had revenue of $2.38 billion during 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%. As a group, sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $1.95 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.5%. First Citizens BancShares’s dividend payout ratio is currently 4.60%.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of recent research reports. Truist Financial decreased their price objective on shares of First Citizens BancShares from $2,240.00 to $2,000.00 and set a “hold” rating for the company in a report on Friday, October 3rd. 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. Cowen reissued a “buy” rating on shares of First Citizens BancShares in a report on Monday, July 28th. Piper Sandler set a $2,150.00 price objective on shares of First Citizens BancShares and gave the stock a “neutral” rating in a research note on Monday, July 28th. Finally, Citigroup restated an “outperform” rating on shares of First Citizens BancShares in a report on Tuesday, October 7th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,227.69.

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.