First Citizens BancShares, Inc. $FCNCA Shares Purchased by Whittier Trust Co.

Whittier Trust Co. increased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,979 shares of the bank’s stock after purchasing an additional 597 shares during the period. Whittier Trust Co. owned 0.05% of First Citizens BancShares worth $13,654,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its position in First Citizens BancShares by 2.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,788 shares of the bank’s stock worth $8,878,000 after buying an additional 107 shares during the last quarter. Blue Trust Inc. raised its position in First Citizens BancShares by 16.5% during the 1st quarter. Blue Trust Inc. now owns 106 shares of the bank’s stock worth $197,000 after buying an additional 15 shares during the last quarter. Nilsine Partners LLC raised its position in First Citizens BancShares by 11.1% during the 1st quarter. Nilsine Partners LLC now owns 130 shares of the bank’s stock worth $241,000 after buying an additional 13 shares during the last quarter. Kentucky Retirement Systems purchased a new position in First Citizens BancShares during the 1st quarter worth $1,455,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in First Citizens BancShares during the 1st quarter worth $619,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,746.03 on Tuesday. The company has a 50-day simple moving average of $1,871.32 and a 200-day simple moving average of $1,880.43. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $22.56 billion, a PE ratio of 10.30 and a beta of 0.60. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its 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 during the quarter, compared to the consensus estimate of $2.21 billion. Equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, insider Hope Holding Bryant bought 409 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was purchased at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the acquisition, the insider owned 1,764 shares of the company’s stock, valued at $2,875,320. The trade was a 30.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Olivia Britton Holding bought 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, with a total value of $666,670.00. Following the completion of the acquisition, the insider directly owned 1,764 shares in the company, valued at $2,875,320. This represents a 30.18% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 1,494 shares of company stock worth $2,485,986. 13.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on FCNCA shares. UBS Group restated a “buy” rating and set a $2,410.00 price objective on shares of First Citizens BancShares in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Raymond James Financial set a $2,100.00 price objective on shares of First Citizens BancShares in a research report on Tuesday, October 7th. 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 report on Monday, July 28th. Finally, 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 for the company in a report on Monday, October 6th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus 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.