First Citizens BancShares, Inc. (NASDAQ:FCNCA) Holdings Lowered by Captrust Financial Advisors

Captrust Financial Advisors reduced its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,273 shares of the bank’s stock after selling 306 shares during the period. Captrust Financial Advisors owned 0.05% of First Citizens BancShares worth $15,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FCNCA. Financial Life Planners acquired a new position in shares of First Citizens BancShares in the 4th quarter worth $33,000. Hemington Wealth Management increased its stake in First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new stake in First Citizens BancShares during the 4th quarter worth about $36,000. Mather Group LLC. raised its holdings in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares during the period. Finally, Asset Planning Inc purchased a new stake in First Citizens BancShares during the fourth quarter valued at about $38,000. 78.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Frank B. Holding, Jr. purchased 350 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the purchase, the chief executive officer now owns 2,758 shares in the company, valued at approximately $4,440,380. This represents a 14.53 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Craig L. Nix bought 17 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the transaction, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The disclosure for this purchase can be found here. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of FCNCA stock opened at $1,778.04 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93. The company’s 50 day moving average price is $1,780.06 and its two-hundred day moving average price is $2,012.91. The company has a market capitalization of $24.14 billion, a P/E ratio of 9.39, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating the consensus estimate of $37.72 by $0.07. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.22 billion. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. On average, analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a yield of 0.44%. First Citizens BancShares’s payout ratio is 4.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FCNCA shares. StockNews.com cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Monday, April 28th. Truist Financial lifted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods increased their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their target price 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. Finally, Piper Sandler raised shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.