Brown Advisory Inc. Reduces Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Brown Advisory Inc. trimmed its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,248 shares of the bank's stock after selling 1,344 shares during the quarter. Brown Advisory Inc. owned about 0.79% of First Citizens BancShares worth $198,851,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Jones Financial Companies Lllp grew its position in First Citizens BancShares by 18.2% in the fourth quarter. Jones Financial Companies Lllp now owns 247 shares of the bank's stock worth $521,000 after acquiring an additional 38 shares during the period. SBI Securities Co. Ltd. purchased a new stake in First Citizens BancShares in the 4th quarter valued at about $40,000. Steward Partners Investment Advisory LLC raised its holdings in First Citizens BancShares by 10.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 77 shares of the bank's stock valued at $164,000 after buying an additional 7 shares during the period. State of Michigan Retirement System purchased a new stake in First Citizens BancShares in the 4th quarter valued at about $423,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in First Citizens BancShares by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 47,724 shares of the bank's stock valued at $100,842,000 after buying an additional 568 shares during the period. 78.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of First Citizens BancShares stock in a transaction on Friday, May 2nd. The shares were bought at an average price of $1,610.00 per share, with a total value of $563,500.00. Following the purchase, the chief executive officer directly owned 2,758 shares in the company, valued at $4,440,380. This trade represents a 14.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.40% of the stock is currently owned by company insiders.

First Citizens BancShares Stock Performance

Shares of First Citizens BancShares stock traded down $18.62 during trading hours on Friday, hitting $2,113.07. 21,093 shares of the company were exchanged, compared to its average volume of 88,798. 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 current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.77. The business has a 50-day moving average of $1,901.28 and a 200-day moving average of $1,940.63. The stock has a market capitalization of $28.08 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 0.96 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.22 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 17.10%. As a group, 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 was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a $1.95 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.37%. First Citizens BancShares's dividend payout ratio is presently 4.47%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Barclays cut their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Cowen initiated coverage on First Citizens BancShares in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Wall Street Zen lowered First Citizens BancShares from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group cut their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,299.50.

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.