First Citizens BancShares, Inc. $FCNCA Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,695 shares of the bank’s stock after selling 164 shares during the period. TD Asset Management Inc’s holdings in First Citizens BancShares were worth $3,316,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC acquired a new stake in First Citizens BancShares in the first quarter valued at approximately $35,000. Wayfinding Financial LLC acquired a new stake in First Citizens BancShares in the first quarter valued at approximately $64,000. Brooklyn Investment Group grew its holdings in First Citizens BancShares by 32.1% in the first quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock valued at $67,000 after purchasing an additional 9 shares during the period. Toth Financial Advisory Corp grew its holdings in First Citizens BancShares by 32.5% in the second quarter. Toth Financial Advisory Corp now owns 53 shares of the bank’s stock valued at $104,000 after purchasing an additional 13 shares during the period. Finally, State of Wyoming grew its holdings in First Citizens BancShares by 15.8% in the first quarter. State of Wyoming now owns 66 shares of the bank’s stock valued at $122,000 after purchasing an additional 9 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock opened at $1,746.03 on Tuesday. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The company has a market cap of $22.56 billion, a price-to-earnings ratio of 10.30 and a beta of 0.60. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50 day moving average price is $1,871.32 and its 200 day moving average price is $1,880.43.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, July 25th. The bank reported $44.78 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.21 billion. On average, research analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Raymond James Financial set a $2,100.00 target price on First Citizens BancShares in a research report on Tuesday, October 7th. JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Citigroup restated an “outperform” rating on shares of First Citizens BancShares in a research report on Tuesday, October 7th. Weiss Ratings restated a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Wednesday, October 8th. Finally, Piper Sandler set a $2,150.00 target price on First Citizens BancShares and gave the company a “neutral” rating in a research report on Monday, July 28th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $2,227.69.

Insider Buying and Selling

In other First Citizens BancShares news, insider Hope Holding Bryant bought 409 shares of the business’s stock in a transaction 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 completion of the purchase, the insider directly owned 1,764 shares in the company, valued at $2,875,320. The trade was a 30.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank B. Holding, Jr. bought 600 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were acquired at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the purchase, the chief executive officer owned 32,300 shares of the company’s stock, valued at $54,869,625. The trade was a 1.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,494 shares of company stock worth $2,485,986. 13.19% of the stock is owned by corporate insiders.

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.