Cortland Associates Inc. MO Lowers Holdings in First Citizens BancShares, Inc. $FCNCA

Cortland Associates Inc. MO lowered its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 27,439 shares of the bank’s stock after selling 464 shares during the period. First Citizens BancShares makes up approximately 7.4% of Cortland Associates Inc. MO’s holdings, making the stock its 2nd biggest position. Cortland Associates Inc. MO owned approximately 0.22% of First Citizens BancShares worth $58,888,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FCNCA. Goldman Sachs Group Inc. lifted its stake in First Citizens BancShares by 1.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after acquiring an additional 681 shares during the period. Empowered Funds LLC raised its stake in First Citizens BancShares by 71.9% during the 1st quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after buying an additional 164 shares during the last quarter. Focus Partners Wealth raised its stake in First Citizens BancShares by 5.2% during the 1st quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after buying an additional 12 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in First Citizens BancShares by 31.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 88 shares of the bank’s stock valued at $172,000 after buying an additional 21 shares during the last quarter. Finally, Flow Traders U.S. LLC purchased a new stake in First Citizens BancShares during the 2nd quarter valued at $260,000. Institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. bought 92 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were bought at an average price of $1,550.00 per share, for a total transaction of $142,600.00. Following the purchase, the chief executive officer owned 2,841 shares in the company, valued at approximately $4,403,550. The trade was a 3.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have purchased 258 shares of company stock worth $404,236. 14.63% of the stock is currently owned by company insiders.

Analyst Ratings Changes

FCNCA has been the subject of a number of research reports. UBS Group set a $2,325.00 target price on shares of First Citizens BancShares in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods lowered their price objective on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a research note on Thursday, April 9th. The Goldman Sachs Group cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective on the stock. in a research note on Tuesday, January 6th. Barclays lowered their price objective on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research note on Monday, January 26th. Finally, Piper Sandler increased their price objective on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,227.08.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,053.90 on Wednesday. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,232.21. The stock has a market capitalization of $24.52 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.53 and a beta of 0.65. The firm’s 50 day moving average price is $1,933.78 and its 200-day moving average price is $1,956.51. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Equities research analysts expect that First Citizens BancShares, Inc. will post 178.89 EPS for the current year.

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.