Hsbc Holdings PLC Has $32.70 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Hsbc Holdings PLC reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 19.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,469 shares of the bank's stock after selling 3,711 shares during the quarter. Hsbc Holdings PLC owned about 0.11% of First Citizens BancShares worth $32,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in First Citizens BancShares in the 4th quarter worth about $33,000. Hemington Wealth Management boosted its stake in First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after buying an additional 6 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new stake in shares of First Citizens BancShares in the fourth quarter valued at about $36,000. Mather Group LLC. lifted its holdings in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock valued at $38,000 after acquiring an additional 5 shares during the last quarter. Finally, Asset Planning Inc acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth about $38,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Craig L. Nix purchased 17 shares of First Citizens BancShares stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.40% of the company's stock.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA traded up $11.28 during mid-day trading on Thursday, hitting $1,790.42. The company had a trading volume of 17,252 shares, compared to its average volume of 88,565. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The firm's 50 day simple moving average is $1,796.94 and its two-hundred day simple moving average is $2,020.21. The stock has a market cap of $24.31 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping analysts' consensus estimates of $37.72 by $0.07. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. As a group, equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, May 30th. First Citizens BancShares's payout ratio is presently 4.47%.

Analyst Upgrades and Downgrades

FCNCA has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Piper Sandler raised First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 target price on the stock in a report on Tuesday, March 11th. Truist Financial boosted their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Barclays decreased their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Keefe, Bruyette & Woods increased their target price on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, First Citizens BancShares has a consensus rating of "Moderate Buy" and a consensus target price of $2,330.82.

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.