Wilmington Savings Fund Society FSB Has $5.66 Million Holdings in First Citizens BancShares, Inc. $FCNCA

Wilmington Savings Fund Society FSB lessened its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,894 shares of the bank’s stock after selling 11 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in First Citizens BancShares were worth $5,662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Cresset Asset Management LLC grew its holdings in shares of First Citizens BancShares by 3.8% during the 1st quarter. Cresset Asset Management LLC now owns 163 shares of the bank’s stock worth $302,000 after purchasing an additional 6 shares in the last quarter. US Bancorp DE grew its holdings in shares of First Citizens BancShares by 0.8% during the 2nd quarter. US Bancorp DE now owns 873 shares of the bank’s stock worth $1,708,000 after purchasing an additional 7 shares in the last quarter. M&T Bank Corp grew its holdings in shares of First Citizens BancShares by 1.3% during the 1st quarter. M&T Bank Corp now owns 632 shares of the bank’s stock worth $1,172,000 after purchasing an additional 8 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in First Citizens BancShares by 3.8% in the 1st quarter. Venturi Wealth Management LLC now owns 221 shares of the bank’s stock valued at $410,000 after buying an additional 8 shares in the last quarter. Finally, Cooper Financial Group boosted its stake in First Citizens BancShares by 5.5% in the 1st quarter. Cooper Financial Group now owns 154 shares of the bank’s stock valued at $286,000 after buying an additional 8 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Buying and Selling

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

First Citizens BancShares Trading Up 3.1%

Shares of FCNCA opened at $1,788.09 on Wednesday. The stock has a fifty day moving average price of $1,881.73 and a two-hundred day moving average price of $1,880.67. 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, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,412.93. The company has a market cap of $23.10 billion, a price-to-earnings ratio of 10.55 and a beta of 0.60.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%.The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. Analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $1.95 dividend. The ex-dividend date was Friday, August 29th. This represents a $7.80 annualized dividend and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.60%.

Analyst Upgrades and Downgrades

Several analysts recently commented on FCNCA shares. UBS Group reaffirmed a “buy” rating and issued a $2,410.00 price target on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Truist Financial decreased their price target on First Citizens BancShares from $2,240.00 to $2,000.00 and set a “hold” rating on the stock in a research note on Friday, October 3rd. The Goldman Sachs Group decreased their price target on First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Cowen reaffirmed a “buy” rating on shares of First Citizens BancShares in a research note on Monday, July 28th. Finally, Raymond James Financial set a $2,100.00 price target on First Citizens BancShares in a research note on Tuesday, October 7th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,227.69.

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.