Federated Hermes Inc. Has $119,000 Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Federated Hermes Inc. trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 72.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64 shares of the bank’s stock after selling 172 shares during the period. Federated Hermes Inc.’s holdings in First Citizens BancShares were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of FCNCA. Capital International Investors lifted its position in shares of First Citizens BancShares by 78.2% during the 4th quarter. Capital International Investors now owns 172,723 shares of the bank’s stock worth $364,967,000 after buying an additional 75,785 shares during the period. Egerton Capital UK LLP lifted its holdings in First Citizens BancShares by 21.7% during the first quarter. Egerton Capital UK LLP now owns 124,773 shares of the bank’s stock worth $231,344,000 after acquiring an additional 22,257 shares in the last quarter. GAMMA Investing LLC lifted its holdings in First Citizens BancShares by 169,861.1% during the first quarter. GAMMA Investing LLC now owns 122,372 shares of the bank’s stock worth $226,892,000 after acquiring an additional 122,300 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in First Citizens BancShares by 83.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,523 shares of the bank’s stock worth $227,198,000 after acquiring an additional 48,994 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of First Citizens BancShares by 16.9% during the fourth quarter. Northern Trust Corp now owns 76,739 shares of the bank’s stock worth $162,151,000 after buying an additional 11,122 shares during the period. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Up 0.4%

FCNCA opened at $1,828.13 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.77. The company has a market cap of $24.30 billion, a P/E ratio of 10.79 and a beta of 0.64. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The business’s 50-day moving average price is $1,967.07 and its 200-day moving average price is $1,920.64.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results 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 11.30% and a net margin of 16.37%. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.21 billion. On average, equities analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $1.95 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $7.80 annualized dividend and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio is currently 4.60%.

Insiders Place Their Bets

In other First Citizens BancShares news, major shareholder Olivia Britton Holding bought 66 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average cost of $1,735.00 per share, for a total transaction of $114,510.00. Following the transaction, the insider owned 121,926 shares of the company’s stock, valued at $211,541,610. This represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FCNCA. 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. UBS Group restated a “buy” rating and set a $2,410.00 price objective on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Citigroup raised their price objective on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Jefferies Financial Group initiated coverage on First Citizens BancShares in a research note on Wednesday, May 21st. They set a “hold” rating and a $2,050.00 price objective on the stock. Finally, Barclays lowered their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Hold” and a consensus target price of $2,291.17.

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.