First Citizens BancShares, Inc. (NASDAQ:FCNCA) is Armor Advisors L.L.C.’s 7th Largest Position

Armor Advisors L.L.C. decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 60.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,284 shares of the bank’s stock after selling 3,515 shares during the period. First Citizens BancShares accounts for about 5.0% of Armor Advisors L.L.C.’s portfolio, making the stock its 7th largest position. Armor Advisors L.L.C.’s holdings in First Citizens BancShares were worth $4,826,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in First Citizens BancShares by 35.7% in the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock worth $828,510,000 after purchasing an additional 103,137 shares in the last quarter. FMR LLC raised its stake in shares of First Citizens BancShares by 10.5% during the 4th quarter. FMR LLC now owns 357,629 shares of the bank’s stock worth $755,677,000 after acquiring an additional 34,097 shares in the last quarter. Capital International Investors lifted its position in First Citizens BancShares by 78.2% during the fourth quarter. Capital International Investors now owns 172,723 shares of the bank’s stock valued at $364,967,000 after acquiring an additional 75,785 shares during the last quarter. Norges Bank acquired a new stake in First Citizens BancShares in the fourth quarter valued at approximately $298,426,000. Finally, Northern Trust Corp grew its holdings in First Citizens BancShares by 16.9% in the fourth quarter. Northern Trust Corp now owns 76,739 shares of the bank’s stock worth $162,151,000 after purchasing an additional 11,122 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Insider Activity

In related news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 13.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FCNCA shares. Truist Financial raised their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. The Goldman Sachs Group dropped their target price on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. JPMorgan Chase & Co. boosted their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods lifted their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average price target of $2,330.82.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,831.32 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $24.86 billion, a PE ratio of 9.67, a PEG ratio of 0.94 and a beta of 0.64. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The firm has a fifty day moving average of $1,788.84 and a 200 day moving average of $2,017.11.

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

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.43%. The ex-dividend date is Friday, May 30th. First Citizens BancShares’s payout ratio is currently 4.47%.

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.