First Citizens BancShares, Inc. $FCNCA Stock Holdings Lowered by Aberdeen Group plc

Aberdeen Group plc lowered its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 21.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,780 shares of the bank’s stock after selling 487 shares during the quarter. Aberdeen Group plc’s holdings in First Citizens BancShares were worth $3,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FCNCA. JPMorgan Chase & Co. lifted its stake in shares of First Citizens BancShares by 4.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 417,088 shares of the bank’s stock valued at $816,022,000 after purchasing an additional 15,921 shares during the last quarter. Norges Bank bought a new stake in shares of First Citizens BancShares in the 2nd quarter worth about $177,604,000. Reinhart Partners LLC. boosted its holdings in shares of First Citizens BancShares by 1.4% in the 3rd quarter. Reinhart Partners LLC. now owns 70,248 shares of the bank’s stock worth $125,715,000 after acquiring an additional 969 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of First Citizens BancShares by 2.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,276 shares of the bank’s stock valued at $118,578,000 after buying an additional 1,450 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of First Citizens BancShares by 15.7% during the second quarter. Bank of America Corp DE now owns 65,101 shares of the bank’s stock valued at $127,369,000 after purchasing an additional 8,826 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. bought 135 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was acquired at an average price of $1,629.67 per share, with a total value of $220,005.45. Following the completion of the purchase, the chief executive officer directly owned 2,527 shares of the company’s stock, valued at approximately $4,118,176.09. This represents a 5.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 13.40% of the stock is owned by corporate insiders.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,016.58 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,232.21. The stock has a market cap of $25.09 billion, a price-to-earnings ratio of 12.17 and a beta of 0.70. The company has a 50 day simple moving average of $2,115.99 and a 200 day simple moving average of $1,951.60.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $2.24 billion. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%. Research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s payout ratio is currently 5.07%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FCNCA shares. Citigroup reiterated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a research note on Monday, December 29th. The Goldman Sachs Group downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 target price for the company. in a research report on Tuesday, January 6th. Raymond James Financial upgraded shares of First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $2,100.00 to $2,200.00 in a research note on Thursday, November 20th. Finally, Truist Financial raised their price target on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus price target of $2,238.27.

First Citizens BancShares 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.