Hsbc Holdings PLC Sells 1,959 Shares of First Citizens BancShares, Inc. $FCNCA

Hsbc Holdings PLC trimmed its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 18.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,551 shares of the bank’s stock after selling 1,959 shares during the period. Hsbc Holdings PLC’s holdings in First Citizens BancShares were worth $18,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of First Citizens BancShares by 117,518.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after buying an additional 205,658 shares during the period. Dimensional Fund Advisors LP boosted its position in First Citizens BancShares by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 124,061 shares of the bank’s stock worth $266,273,000 after buying an additional 492 shares during the period. Morgan Stanley grew its holdings in First Citizens BancShares by 31.8% during the 4th quarter. Morgan Stanley now owns 123,048 shares of the bank’s stock worth $264,087,000 after acquiring an additional 29,681 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in First Citizens BancShares by 11.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,317 shares of the bank’s stock worth $262,514,000 after acquiring an additional 12,303 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in First Citizens BancShares by 16.3% in the 3rd quarter. Alliancebernstein L.P. now owns 78,310 shares of the bank’s stock valued at $140,109,000 after acquiring an additional 10,948 shares during the period. 78.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 335 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $1,920.80 per share, with a total value of $643,468.00. Following the purchase, the chief executive officer directly owned 64,435 shares of the company’s stock, valued at $123,766,748. This trade represents a 0.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired a total of 7,190 shares of company stock worth $12,573,868 over the last quarter. Corporate insiders own 14.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Zacks Research raised shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings cut shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Wall Street Zen upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research report on Wednesday, July 1st. Finally, The Goldman Sachs Group lifted their target price on First Citizens BancShares from $2,100.00 to $2,340.00 and gave the stock a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2,247.08.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $2,092.43 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21. The company has a 50 day simple moving average of $2,025.90 and a two-hundred day simple moving average of $2,022.74. The company has a market capitalization of $24.25 billion, a PE ratio of 12.03, a P/E/G ratio of 1.60 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating analysts’ consensus estimates of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm posted $37.79 EPS. Research analysts anticipate that First Citizens BancShares, Inc. will post 177 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio is 4.83%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.