Stratos Wealth Partners LTD. Reduces Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Stratos Wealth Partners LTD. trimmed its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 162 shares of the bank’s stock after selling 7 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in First Citizens BancShares were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of First Citizens BancShares by 35.7% during the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock valued at $828,510,000 after purchasing an additional 103,137 shares during the period. FMR LLC boosted its stake in shares of First Citizens BancShares by 10.5% during the fourth quarter. FMR LLC now owns 357,629 shares of the bank’s stock valued at $755,677,000 after purchasing an additional 34,097 shares during the period. Capital International Investors boosted its stake in shares of First Citizens BancShares by 78.2% during the fourth quarter. Capital International Investors now owns 172,723 shares of the bank’s stock valued at $364,967,000 after purchasing an additional 75,785 shares during the period. Norges Bank purchased a new stake in shares of First Citizens BancShares during the fourth quarter valued at $298,426,000. Finally, GAMMA Investing LLC boosted its stake in shares of First Citizens BancShares by 169,861.1% during the first quarter. GAMMA Investing LLC now owns 122,372 shares of the bank’s stock valued at $226,892,000 after purchasing an additional 122,300 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Down 3.3%

Shares of NASDAQ:FCNCA opened at $2,080.86 on Wednesday. The business’s 50 day moving average price is $1,919.26 and its 200-day moving average price is $1,938.55. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $27.65 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 0.99 and a beta of 0.64. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, beating analysts’ consensus estimates of $37.72 by $0.07. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. On average, equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Friday, May 30th. First Citizens BancShares’s payout ratio is 4.47%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. TD Cowen assumed coverage on First Citizens BancShares in a report on Thursday, May 15th. They issued a “buy” rating and a $2,400.00 price objective for the company. Barclays decreased their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. UBS Group restated a “buy” rating and issued a $2,410.00 price objective on shares of First Citizens BancShares in a report on Wednesday, July 9th. Finally, Jefferies Financial Group assumed coverage on First Citizens BancShares in a report on Wednesday, May 21st. They issued a “hold” rating and a $2,050.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average target price of $2,299.50.

Insider Activity

In other news, CEO Frank B. Holding, Jr. bought 350 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was bought at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the acquisition, the chief executive officer directly owned 2,758 shares of the company’s stock, valued at $4,440,380. The trade was a 14.53% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 13.19% of the company’s stock.

First Citizens BancShares Company 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.