First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 173.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153 shares of the bank’s stock after purchasing an additional 97 shares during the quarter. Federated Hermes Inc.’s holdings in First Citizens BancShares were worth $217,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC raised its stake in First Citizens BancShares by 4.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 303 shares of the bank’s stock worth $419,000 after acquiring an additional 12 shares in the last quarter. Xponance Inc. raised its stake in First Citizens BancShares by 6.0% during the 3rd quarter. Xponance Inc. now owns 548 shares of the bank’s stock worth $756,000 after acquiring an additional 31 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in First Citizens BancShares by 11.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 573 shares of the bank’s stock worth $791,000 after acquiring an additional 60 shares in the last quarter. Lindbrook Capital LLC raised its stake in First Citizens BancShares by 53.3% during the 3rd 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. Finally, Verdence Capital Advisors LLC raised its stake in First Citizens BancShares by 13.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 182 shares of the bank’s stock worth $251,000 after acquiring an additional 22 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 0.2 %

Shares of NASDAQ FCNCA opened at $1,710.00 on Monday. 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, Inc. has a 52 week low of $945.32 and a 52 week high of $1,810.03. The firm has a 50-day moving average price of $1,600.68 and a 200 day moving average price of $1,493.30. The stock has a market capitalization of $24.83 billion, a price-to-earnings ratio of 9.49 and a beta of 0.86.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Thursday, May 30th. First Citizens BancShares’s dividend payout ratio (DPR) is 3.64%.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several research analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $2,100.00 price target (up from $1,900.00) on shares of First Citizens BancShares in a research note on Friday, April 26th. Barclays raised their price objective on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. UBS Group raised their price objective on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. The Goldman Sachs Group initiated coverage on shares of First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price objective on the stock. Finally, Piper Sandler downgraded shares of First Citizens BancShares from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $1,850.00 to $1,950.00 in a research report on Friday, April 26th. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,829.90.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, insider Hope Holding Bryant bought 300 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $1,315.00 per share, for a total transaction of $394,500.00. Following the completion of the transaction, the insider now owns 1,978 shares in the company, valued at approximately $2,601,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Citizens BancShares news, insider Hope Holding Bryant bought 300 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $1,315.00 per share, for a total transaction of $394,500.00. Following the completion of the transaction, the insider now owns 1,978 shares in the company, valued at approximately $2,601,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank B. Holding, Jr. bought 622 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the transaction, the chief executive officer now owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,388 shares of company stock worth $1,825,220 and sold 2,600 shares worth $4,458,964. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Company 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.