American Trust Lowers Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

American Trust cut its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470 shares of the bank’s stock after selling 40 shares during the quarter. American Trust’s holdings in First Citizens BancShares were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. First Bank & Trust lifted its stake in First Citizens BancShares by 5.2% in the 3rd quarter. First Bank & Trust now owns 263 shares of the bank’s stock worth $210,000 after purchasing an additional 13 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of First Citizens BancShares by 1.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 949 shares of the bank’s stock valued at $757,000 after buying an additional 13 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of First Citizens BancShares by 17.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 102 shares of the bank’s stock valued at $67,000 after buying an additional 15 shares in the last quarter. Greenleaf Trust raised its position in shares of First Citizens BancShares by 3.1% during the 3rd quarter. Greenleaf Trust now owns 492 shares of the bank’s stock valued at $392,000 after buying an additional 15 shares in the last quarter. Finally, American International Group Inc. raised its position in shares of First Citizens BancShares by 12.6% during the 2nd quarter. American International Group Inc. now owns 143 shares of the bank’s stock valued at $93,000 after buying an additional 16 shares in the last quarter. 66.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FCNCA. StockNews.com began coverage on shares of First Citizens BancShares in a research report on Thursday. They set a “hold” rating on the stock. UBS Group began coverage on shares of First Citizens BancShares in a research report on Wednesday. They set a “sell” rating and a $538.00 price objective on the stock.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 235 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were bought at an average price of $650.00 per share, for a total transaction of $152,750.00. Following the transaction, the chief executive officer now directly owns 93,467 shares in the company, valued at $60,753,550. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Frank B. Holding, Jr. purchased 235 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were acquired at an average price of $650.00 per share, with a total value of $152,750.00. Following the acquisition, the chief executive officer now directly owns 93,467 shares in the company, valued at $60,753,550. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Frank B. Holding, Jr. purchased 1,020 shares of the business’s stock in a transaction on Friday, February 3rd. The stock was purchased at an average cost of $722.51 per share, for a total transaction of $736,960.20. Following the acquisition, the chief executive officer now owns 93,232 shares in the company, valued at $67,361,052.32. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,583 shares of company stock worth $1,110,798 in the last 90 days. 13.40% of the stock is owned by company insiders.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $547.46 on Friday. The stock has a market cap of $7.94 billion, a PE ratio of 8.11 and a beta of 0.94. The company’s fifty day moving average is $745.87 and its 200 day moving average is $785.83. First Citizens BancShares, Inc. has a 52 week low of $516.00 and a 52 week high of $885.38. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.51.

First Citizens BancShares (NASDAQ:FCNCA – Get Rating) last issued its earnings results on Thursday, January 26th. The bank reported $20.94 EPS for the quarter, missing analysts’ consensus estimates of $23.34 by ($2.40). The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.10 billion. First Citizens BancShares had a return on equity of 13.07% and a net margin of 19.79%. Research analysts anticipate that First Citizens BancShares, Inc. will post 89.53 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, February 27th. First Citizens BancShares’s payout ratio is presently 4.45%.

About First Citizens BancShares

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First Citizens BancShares, Inc is a bank holding company, which provides retail and commercial banking services through its subsidiaries. The company operates under the following segments: General Banking, Commercial Banking, Rail, and Corporate. The General Banking delivers services to individuals through branch networks.