First Citizens BancShares, Inc. $FCNCA Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in First Citizens BancShares by 53.6%, now holding only 140 shares, valued at $260,000.
• Other institutional investors have also increased their holdings, with Barclays PLC raising its stake by 18.1% and several others buying new stakes during the fourth quarter.
• Shares of First Citizens BancShares recently opened at $1,871.35, down 2.8%, with an average price target of $2,291.17 according to analysts.

Atria Wealth Solutions Inc. lowered its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 53.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140 shares of the bank's stock after selling 162 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in First Citizens BancShares were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas bought a new position in First Citizens BancShares during the first quarter valued at $2,642,000. Bank of New York Mellon Corp lifted its holdings in shares of First Citizens BancShares by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 40,553 shares of the bank's stock worth $75,190,000 after acquiring an additional 772 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of First Citizens BancShares by 16.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 190 shares of the bank's stock worth $352,000 after acquiring an additional 27 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of First Citizens BancShares during the 1st quarter worth about $439,000. Finally, DAVENPORT & Co LLC purchased a new position in shares of First Citizens BancShares during the 1st quarter worth about $221,000. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Stock Performance

NASDAQ FCNCA traded up $6.29 during mid-day trading on Thursday, reaching $1,937.63. 149,296 shares of the stock were exchanged, compared to its average volume of 139,215. The business's 50 day moving average is $1,978.83 and its 200-day moving average is $1,906.45. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The company has a market capitalization of $25.03 billion, a P/E ratio of 11.43 and a beta of 0.64. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $39.08 by $5.70. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.21 billion. On average, equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares's dividend payout ratio is 4.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FCNCA shares. Citigroup lifted their price target on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. TD Cowen started coverage on shares of First Citizens BancShares in a research note on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price target for the company. Cowen reaffirmed a "buy" rating on shares of First Citizens BancShares in a research note on Monday, July 28th. Piper Sandler set a $2,150.00 price target on shares of First Citizens BancShares and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, UBS Group reaffirmed a "buy" rating and set a $2,410.00 price target on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $2,291.17.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. purchased 600 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the completion of the acquisition, the chief executive officer owned 32,300 shares of the company's stock, valued at approximately $54,869,625. This represents a 1.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Olivia Britton Holding acquired 409 shares of First Citizens BancShares stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $1,630.00 per share, with a total value of $666,670.00. Following the completion of the transaction, the insider directly owned 1,764 shares of the company's stock, valued at $2,875,320. This trade represents a 30.18% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 1,494 shares of company stock valued at $2,485,986. Corporate insiders own 13.40% of the company's stock.

About First Citizens BancShares

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.