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

Whittier Trust Co. lifted its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,664 shares of the bank’s stock after purchasing an additional 341 shares during the period. Whittier Trust Co.’s holdings in First Citizens BancShares were worth $16,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCNCA. Goldman Sachs Group Inc. increased its position in shares of First Citizens BancShares by 1.9% during the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock worth $69,324,000 after purchasing an additional 681 shares in the last quarter. Empowered Funds LLC increased its position in shares of First Citizens BancShares by 71.9% during the first quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock worth $727,000 after purchasing an additional 164 shares in the last quarter. Focus Partners Wealth increased its position in shares of First Citizens BancShares by 5.2% during the first quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock worth $447,000 after purchasing an additional 12 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of First Citizens BancShares by 31.3% during the second quarter. EverSource Wealth Advisors LLC now owns 88 shares of the bank’s stock worth $172,000 after purchasing an additional 21 shares in the last quarter. Finally, Flow Traders U.S. LLC acquired a new stake in shares of First Citizens BancShares during the second quarter worth about $260,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FCNCA. Barclays cut their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research report on Monday, January 26th. Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Deutsche Bank Aktiengesellschaft lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price target on the stock. in a report on Wednesday, April 8th. Piper Sandler raised their price target on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, UBS Group set a $2,325.00 price target on First Citizens BancShares in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,227.08.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,981.53 on Friday. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,232.21. The stock’s 50 day moving average is $1,940.30 and its two-hundred day moving average is $1,948.13. The firm has a market capitalization of $23.65 billion, a PE ratio of 11.96, a P/E/G ratio of 1.48 and a beta of 0.65. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%.The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. Research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 27th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, February 27th. First Citizens BancShares’s payout ratio is currently 5.07%.

Insiders Place Their Bets

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 92 shares of the stock in a transaction on Thursday, March 19th. The shares were bought at an average price of $1,550.00 per share, with a total value of $142,600.00. Following the acquisition, the chief executive officer owned 2,841 shares of the company’s stock, valued at $4,403,550. This trade represents a 3.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders purchased 258 shares of company stock valued at $404,236. 14.63% of the stock is currently owned by insiders.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.