Voya Investment Management LLC Acquires 8 Shares of First Citizens BancShares, Inc. $FCNCA

Voya Investment Management LLC boosted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,668 shares of the bank’s stock after acquiring an additional 8 shares during the quarter. Voya Investment Management LLC’s holdings in First Citizens BancShares were worth $3,093,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCNCA. JPMorgan Chase & Co. grew its stake in shares of First Citizens BancShares by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 401,167 shares of the bank’s stock worth $743,815,000 after acquiring an additional 9,070 shares during the last quarter. Egerton Capital UK LLP lifted its holdings in shares of First Citizens BancShares by 21.7% during the first quarter. Egerton Capital UK LLP now owns 124,773 shares of the bank’s stock valued at $231,344,000 after acquiring an additional 22,257 shares during the period. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 122,300 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of First Citizens BancShares by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,583 shares of the bank’s stock valued at $225,429,000 after acquiring an additional 14,060 shares during the period. Finally, Nuveen LLC bought a new position in shares of First Citizens BancShares in the first quarter valued at about $149,963,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the subject of a number of research analyst reports. Citigroup lifted their price target on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Cowen reiterated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, July 28th. JPMorgan Chase & Co. upped their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Piper Sandler set a $2,150.00 price target on First Citizens BancShares and gave the company a “neutral” rating in a report on Monday, July 28th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,291.17.

Insiders Place Their Bets

In other First Citizens BancShares news, major shareholder Olivia Britton Holding bought 409 shares of the stock in a transaction on Thursday, August 7th. The stock was acquired at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the acquisition, the insider owned 1,764 shares in the company, valued at $2,875,320. This trade represents a 30.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Hope Holding Bryant bought 409 shares of the stock in a transaction on Thursday, August 7th. The stock was acquired at an average price of $1,630.00 per share, with a total value of $666,670.00. Following the completion of the acquisition, the insider owned 1,764 shares of the company’s stock, valued at $2,875,320. This represents a 30.18% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,494 shares of company stock worth $2,485,986. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,866.88 on Friday. The stock’s 50 day moving average is $1,972.51 and its 200 day moving average is $1,885.60. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $24.12 billion, a P/E ratio of 11.02 and a beta of 0.71. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, July 25th. The bank reported $44.78 EPS for the quarter, topping analysts’ consensus estimates of $39.08 by $5.70. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%. As a group, research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, August 29th. First Citizens BancShares’s payout ratio is presently 4.60%.

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.