Natixis Advisors LLC Sells 2,008 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Key Points

• Natixis Advisors LLC reduced its holdings in First Citizens BancShares by 8.4%, now owning approximately $40.51 million worth of stock.
• First Citizens BancShares reported a quarterly EPS of $44.78, significantly exceeding the consensus estimate of $39.08, with revenues reaching $2.38 billion.
• The company declared a quarterly dividend of $1.95 per share, scheduled to be paid on September 15th, representing an annualized yield of 0.4%.

Natixis Advisors LLC lessened its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,847 shares of the bank's stock after selling 2,008 shares during the quarter. Natixis Advisors LLC owned 0.16% of First Citizens BancShares worth $40,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Gamco Investors INC. ET AL grew its stake in shares of First Citizens BancShares by 3.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank's stock worth $328,000 after acquiring an additional 5 shares during the period. JT Stratford LLC grew its stake in shares of First Citizens BancShares by 0.4% during the 4th quarter. JT Stratford LLC now owns 1,247 shares of the bank's stock worth $2,635,000 after acquiring an additional 5 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in shares of First Citizens BancShares by 54.5% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank's stock worth $32,000 after acquiring an additional 6 shares during the period. M&T Bank Corp grew its stake in shares of First Citizens BancShares by 1.3% during the 1st quarter. M&T Bank Corp now owns 632 shares of the bank's stock worth $1,172,000 after acquiring an additional 8 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of First Citizens BancShares by 3.8% during the 1st quarter. Venturi Wealth Management LLC now owns 221 shares of the bank's stock worth $410,000 after acquiring an additional 8 shares during the period. Institutional investors own 78.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FCNCA shares. UBS Group reiterated 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. Piper Sandler set a $2,150.00 price target on First Citizens BancShares and gave the stock a "neutral" rating in a research note on Monday, July 28th. Barclays dropped their price target on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. TD Cowen assumed coverage on First Citizens BancShares in a research report on Thursday, May 15th. They set a "buy" rating and a $2,400.00 price target for the company. Finally, Jefferies Financial Group began coverage on First Citizens BancShares in a research report on Wednesday, May 21st. They set a "hold" rating and a $2,050.00 price target for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, First Citizens BancShares has an average rating of "Hold" and a consensus target price of $2,291.17.

First Citizens BancShares Stock Down 1.5%

First Citizens BancShares stock traded down $28.87 during mid-day trading on Tuesday, hitting $1,854.96. The company had a trading volume of 94,935 shares, compared to its average volume of 85,443. 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 stock's 50 day moving average price is $1,967.27 and its two-hundred day moving average price is $1,931.09. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The company has a market capitalization of $24.65 billion, a PE ratio of 10.96 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, topping the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.30% and a net margin of 16.37%. The firm had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.21 billion. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

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

Insider Buying and Selling

In other news, major shareholder Olivia Britton Holding acquired 66 shares of First Citizens BancShares stock in a transaction that occurred on Tuesday, July 29th. The stock was bought at an average price of $1,735.00 per share, for a total transaction of $114,510.00. Following the completion of the transaction, the insider owned 121,926 shares in the company, valued at $211,541,610. The trade was a 0.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.19% 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.