First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stake Lessened by Truist Financial Corp

Truist Financial Corp lessened its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,410 shares of the bank’s stock after selling 307 shares during the period. Truist Financial Corp owned about 0.06% of First Citizens BancShares worth $13,352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. increased its stake in First Citizens BancShares by 100.0% in the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after buying an additional 10 shares during the period. GAMMA Investing LLC acquired a new position in shares of First Citizens BancShares in the fourth quarter worth $30,000. Lindbrook Capital LLC raised its holdings in shares of First Citizens BancShares by 53.3% during the third quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after acquiring an additional 8 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in First Citizens BancShares by 362.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 37 shares of the bank’s stock valued at $52,000 after purchasing an additional 29 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in First Citizens BancShares by 60.0% in the third quarter. Federated Hermes Inc. now owns 56 shares of the bank’s stock valued at $77,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FCNCA. Barclays lifted their price target on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a research report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price for the company. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Monday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $2,100.00 price objective (up from $1,900.00) on shares of First Citizens BancShares in a report on Friday, April 26th. Finally, Wedbush restated an “outperform” rating and set a $1,800.00 target price on shares of First Citizens BancShares in a report on Monday, January 29th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,829.90.

Insider Activity at First Citizens BancShares

In other news, Director Ellen R. Alemany sold 1,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $1,766.24, for a total transaction of $1,766,240.00. Following the transaction, the director now owns 2,335 shares in the company, valued at approximately $4,124,170.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total transaction of $1,766,240.00. Following the sale, the director now owns 2,335 shares of the company’s stock, valued at approximately $4,124,170.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Olivia Britton Holding bought 466 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the purchase, the insider now directly owns 121,694 shares of the company’s stock, valued at approximately $160,027,610. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 1,388 shares of company stock worth $1,825,220 and sold 2,600 shares worth $4,458,964. Corporate insiders own 12.85% of the company’s stock.

First Citizens BancShares Stock Performance

FCNCA opened at $1,675.99 on Thursday. First Citizens BancShares, Inc. has a 12-month low of $945.32 and a 12-month high of $1,810.03. The firm has a market capitalization of $24.34 billion, a P/E ratio of 9.30 and a beta of 0.89. The stock’s 50 day moving average price is $1,593.32 and its two-hundred day moving average price is $1,487.76. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Thursday, May 30th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.64%.

First Citizens BancShares 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.