Armor Advisors L.L.C. Has $2.75 Million Position in First Citizens BancShares, Inc. $FCNCA

Armor Advisors L.L.C. lessened its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 38.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,537 shares of the bank’s stock after selling 966 shares during the period. First Citizens BancShares accounts for about 1.5% of Armor Advisors L.L.C.’s portfolio, making the stock its 12th largest position. Armor Advisors L.L.C.’s holdings in First Citizens BancShares were worth $2,750,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FCNCA. Allworth Financial LP grew its holdings in First Citizens BancShares by 35.3% during the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank’s stock worth $45,000 after acquiring an additional 6 shares during the last quarter. Personal CFO Solutions LLC grew its stake in shares of First Citizens BancShares by 4.0% during the second quarter. Personal CFO Solutions LLC now owns 156 shares of the bank’s stock valued at $305,000 after purchasing an additional 6 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of First Citizens BancShares by 40.0% during the third quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after purchasing an additional 6 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of First Citizens BancShares by 0.6% in the second quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after purchasing an additional 6 shares in the last quarter. Finally, Greenleaf Trust raised its position in First Citizens BancShares by 2.0% in the 3rd quarter. Greenleaf Trust now owns 416 shares of the bank’s stock worth $744,000 after purchasing an additional 8 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Stock Performance

FCNCA opened at $2,016.58 on Friday. The company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 12.17 and a beta of 0.70. The business’s 50-day moving average price is $2,115.99 and its two-hundred day moving average price is $1,952.22. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,232.21. 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 (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%. Equities analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given 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 brokerages have recently issued reports on FCNCA. JPMorgan Chase & Co. raised their target price on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. TD Cowen reduced their price objective on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Citigroup reiterated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Citizens BancShares in a research note on Monday, December 29th. Finally, The Goldman Sachs Group cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective for the company. in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average price target of $2,238.27.

Insider Buying and Selling

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 135 shares of the firm’s 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 transaction, the chief executive officer owned 2,527 shares in the company, valued at approximately $4,118,176.09. This trade represents a 5.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.40% of the company’s stock.

About First Citizens BancShares

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.