First Citizens BancShares, Inc. $FCNCA Shares Sold by Corient Private Wealth LP

Corient Private Wealth LP decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 36.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 921 shares of the bank's stock after selling 533 shares during the period. Corient Private Wealth LP's holdings in First Citizens BancShares were worth $1,917,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of First Citizens BancShares by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 125,947 shares of the bank's stock worth $237,333,000 after purchasing an additional 1,886 shares during the last quarter. Reinhart Partners LLC. grew its holdings in First Citizens BancShares by 7.5% in the 2nd quarter. Reinhart Partners LLC. now owns 84,206 shares of the bank's stock valued at $175,253,000 after buying an additional 5,909 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of First Citizens BancShares by 20.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 91,876 shares of the bank's stock valued at $174,048,000 after acquiring an additional 15,788 shares during the last quarter. River Road Asset Management LLC increased its stake in shares of First Citizens BancShares by 574.0% during the 4th quarter. River Road Asset Management LLC now owns 55,402 shares of the bank's stock valued at $118,903,000 after acquiring an additional 47,182 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of First Citizens BancShares during the 4th quarter valued at about $116,565,000. 78.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, major shareholder Olivia Britton Holding sold 7,000 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $19.53, for a total transaction of $136,710.00. Following the completion of the sale, the insider owned 15,000 shares in the company, valued at $292,950. The trade was a 31.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Diane E. Morais bought 50 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were acquired at an average cost of $2,168.11 per share, for a total transaction of $108,405.50. Following the completion of the acquisition, the director directly owned 100 shares of the company's stock, valued at $216,811. This trade represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 14.63% of the company's stock.

First Citizens BancShares Trading Down 1.4%

Shares of FCNCA opened at $2,039.32 on Thursday. The stock's 50-day moving average is $2,172.96 and its two-hundred day moving average is $2,050.25. The stock has a market cap of $23.02 billion, a PE ratio of 10.90, a P/E/G ratio of 1.56 and a beta of 0.60. First Citizens BancShares, Inc. has a 12 month low of $1,623.76 and a 12 month high of $2,296.30. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.00 and a quick ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $57.09 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $56.68. The business had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.16 billion. First Citizens BancShares had a net margin of 16.28% and a return on equity of 12.07%. Equities analysts forecast that First Citizens BancShares, Inc. will post 192.11 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 31st. First Citizens BancShares's dividend payout ratio is currently 4.49%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of First Citizens BancShares from $2,346.00 to $2,376.00 and gave the stock an "equal weight" rating in a research report on Monday, July 27th. Piper Sandler increased their price target on shares of First Citizens BancShares from $2,050.00 to $2,100.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Jefferies Financial Group reiterated a "hold" rating and issued a $2,300.00 price target on shares of First Citizens BancShares in a report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of First Citizens BancShares from $2,350.00 to $2,450.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Finally, Citigroup restated a "neutral" rating on shares of First Citizens BancShares in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $2,272.54.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the financial holding company for First-Citizens Bank & Trust Company, which operates under the First Citizens Bank name. Headquartered in Raleigh, North Carolina, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgages, credit cards, cash-management and treasury services, investment services, and wealth management.

Want to see what other hedge funds are holding FCNCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.