Candriam S.C.A. Has $865,000 Stock Position in First Citizens BancShares, Inc. $FCNCA

Candriam S.C.A. reduced its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 442 shares of the bank’s stock after selling 37 shares during the period. Candriam S.C.A.’s holdings in First Citizens BancShares were worth $865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of FCNCA. SVB Wealth LLC acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at about $35,000. Creekmur Asset Management LLC purchased a new position in First Citizens BancShares during the second quarter valued at approximately $39,000. Allworth Financial LP increased its stake in First Citizens BancShares by 35.3% in the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank’s stock valued at $45,000 after buying an additional 6 shares during the period. Brooklyn Investment Group lifted its position in First Citizens BancShares by 32.1% in the 1st quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock worth $67,000 after buying an additional 9 shares in the last quarter. Finally, Toth Financial Advisory Corp boosted its stake in shares of First Citizens BancShares by 32.5% during the 2nd quarter. Toth Financial Advisory Corp now owns 53 shares of the bank’s stock valued at $104,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany purchased 300 shares of the stock in a transaction dated Thursday, November 13th. The shares were bought at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the director owned 300 shares in the company, valued at $300,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.40% of the stock is owned by company insiders.

First Citizens BancShares Stock Down 3.0%

Shares of First Citizens BancShares stock opened at $1,789.22 on Tuesday. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The stock has a market capitalization of $22.25 billion, a P/E ratio of 10.58 and a beta of 0.75. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.76. The stock has a 50 day moving average price of $1,807.98 and a two-hundred day moving average price of $1,894.03.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, topping analysts’ consensus estimates of $41.51 by $3.11. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.21 billion. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.06%. Equities analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $8.40 dividend on an annualized basis and a yield of 0.5%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.95. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.97%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FCNCA shares. Truist Financial upped their price target on shares of First Citizens BancShares from $2,000.00 to $2,050.00 and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Cowen reaffirmed a “buy” rating on shares of First Citizens BancShares in a research report on Monday, July 28th. Weiss Ratings downgraded First Citizens BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Keefe, Bruyette & Woods lowered their price target on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Finally, Barclays dropped their price objective on First Citizens BancShares from $2,400.00 to $2,190.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average price target of $2,157.50.

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.