First Citizens Bank & Trust Co. Has $154.82 Million Position in First Citizens BancShares, Inc. $FCNCA

Key Points

• First Citizens Bank & Trust Co. increased its stake in First Citizens BancShares by 0.3%, owning a total of $154.82 million in shares, making it the bank's 8th largest holding.
• Insiders have shown significant activity, with major shareholder Olivia Britton Holding acquiring 409 shares for approximately $666,670, marking a 30.18% increase in their ownership.
• First Citizens BancShares reported earnings per share of $44.62 for the last quarter, exceeding analysts' expectations, while maintaining a net margin of 16.37% and a return on equity of 11.32%.

First Citizens Bank & Trust Co. increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,132 shares of the bank's stock after acquiring an additional 258 shares during the quarter. First Citizens BancShares comprises approximately 2.4% of First Citizens Bank & Trust Co.'s holdings, making the stock its 8th largest holding. First Citizens Bank & Trust Co. owned 0.60% of First Citizens BancShares worth $154,819,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FCNCA. Teacher Retirement System of Texas bought a new stake in shares of First Citizens BancShares in the 1st quarter worth approximately $2,642,000. Bank of New York Mellon Corp lifted its position in First Citizens BancShares by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 40,553 shares of the bank's stock worth $75,190,000 after purchasing an additional 772 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in First Citizens BancShares by 16.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 190 shares of the bank's stock worth $352,000 after buying an additional 27 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in First Citizens BancShares in the 1st quarter valued at $221,000. Finally, Malaga Cove Capital LLC acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at $714,000. 78.01% of the stock is owned by institutional investors.

Insider Activity at First Citizens BancShares

In other news, major shareholder Olivia Britton Holding bought 409 shares of the stock in a transaction on Thursday, August 7th. The stock was purchased at an average price of $1,630.00 per share, with a total value of $666,670.00. Following the completion of the purchase, the insider owned 1,764 shares of the company's stock, valued at approximately $2,875,320. This trade represents a 30.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Hope Holding Bryant purchased 409 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was purchased at an average cost of $1,630.00 per share, with a total value of $666,670.00. Following the acquisition, the insider directly owned 1,764 shares in the company, valued at $2,875,320. This trade represents a 30.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 1,494 shares of company stock worth $2,485,986. 13.40% of the stock is owned by insiders.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $1,742.49 on Thursday. The stock has a 50-day simple moving average of $1,865.59 and a 200 day simple moving average of $1,878.64. The stock has a market capitalization of $22.51 billion, a price-to-earnings ratio of 10.28 and a beta of 0.60. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.76. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, beating analysts' consensus estimates of $42.56 by $2.06. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. On average, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FCNCA has been the topic of several recent research reports. The Goldman Sachs Group decreased their target price on shares of First Citizens BancShares from $2,250.00 to $1,950.00 and set a "buy" rating on the stock in a research report on Monday, October 6th. JPMorgan Chase & Co. upped their price objective on 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. Wall Street Zen cut First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Sunday, September 28th. UBS Group restated a "buy" rating and set a $2,410.00 target price on shares of First Citizens BancShares in a research report on Wednesday, July 9th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of First Citizens BancShares in a research report on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,227.69.

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.

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