Hsbc Holdings PLC Has $389,000 Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Hsbc Holdings PLC decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Get Rating) by 63.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 487 shares of the bank’s stock after selling 843 shares during the quarter. Hsbc Holdings PLC’s holdings in First Citizens BancShares were worth $389,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Prudential PLC increased its position in First Citizens BancShares by 10.7% during the third quarter. Prudential PLC now owns 392 shares of the bank’s stock worth $313,000 after acquiring an additional 38 shares during the period. Pictet Asset Management SA increased its position in First Citizens BancShares by 1.2% during the third quarter. Pictet Asset Management SA now owns 4,100 shares of the bank’s stock worth $3,269,000 after acquiring an additional 50 shares during the period. Envestnet Asset Management Inc. increased its position in First Citizens BancShares by 49.5% during the third quarter. Envestnet Asset Management Inc. now owns 13,424 shares of the bank’s stock worth $10,705,000 after acquiring an additional 4,443 shares during the period. North Reef Capital Management LP increased its position in First Citizens BancShares by 57.1% during the third quarter. North Reef Capital Management LP now owns 23,617 shares of the bank’s stock worth $18,833,000 after acquiring an additional 8,588 shares during the period. Finally, Intech Investment Management LLC bought a new position in First Citizens BancShares during the third quarter worth about $267,000. Institutional investors and hedge funds own 66.53% of the company’s stock.

First Citizens BancShares Price Performance

FCNCA stock opened at $681.22 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.51. First Citizens BancShares, Inc. has a 12 month low of $598.01 and a 12 month high of $885.38. The firm has a market cap of $9.88 billion, a P/E ratio of 10.06 and a beta of 0.94. The company’s 50-day moving average price is $769.37 and its two-hundred day moving average price is $797.65.

First Citizens BancShares (NASDAQ:FCNCA – Get Rating) last released its earnings results on Thursday, January 26th. The bank reported $20.94 EPS for the quarter, missing the consensus estimate of $23.34 by ($2.40). First Citizens BancShares had a net margin of 19.79% and a return on equity of 13.07%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.10 billion. On average, analysts anticipate that First Citizens BancShares, Inc. will post 89.53 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.45%.

Insider Activity at First Citizens BancShares

In related news, CFO Craig L. Nix purchased 70 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were bought at an average cost of $710.04 per share, with a total value of $49,702.80. Following the acquisition, the chief financial officer now owns 1,046 shares of the company’s stock, valued at approximately $742,701.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other First Citizens BancShares news, CFO Craig L. Nix bought 70 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were acquired at an average cost of $710.04 per share, for a total transaction of $49,702.80. Following the transaction, the chief financial officer now directly owns 1,046 shares in the company, valued at $742,701.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank B. Holding, Jr. bought 1,020 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were acquired at an average price of $722.51 per share, for a total transaction of $736,960.20. Following the completion of the transaction, the chief executive officer now owns 93,232 shares in the company, valued at $67,361,052.32. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 2,710 shares of company stock valued at $833,135. 13.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 4th.

About First Citizens BancShares

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First Citizens BancShares, Inc is a bank holding company, which provides retail and commercial banking services through its subsidiaries. The company operates under the following segments: General Banking, Commercial Banking, Rail, and Corporate. The General Banking delivers services to individuals through branch networks.