Gulf International Bank UK Ltd Sells 91 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)
Gulf International Bank UK Ltd trimmed its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Free Report) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 885 shares of the bank’s stock after selling 91 shares during the period. Gulf International Bank UK Ltd’s holdings in First Citizens BancShares were worth $1,255,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC raised its stake in shares of First Citizens BancShares by 53.3% during the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock worth $32,000 after purchasing an additional 8 shares during the period. Castleview Partners LLC purchased a new stake in First Citizens BancShares in the 2nd quarter worth about $31,000. Resurgent Financial Advisors LLC purchased a new stake in First Citizens BancShares in the 4th quarter worth about $35,000. Fred Alger Management LLC purchased a new stake in First Citizens BancShares in the 4th quarter worth about $39,000. Finally, Federated Hermes Inc. increased its holdings in First Citizens BancShares by 60.0% in the 3rd quarter. Federated Hermes Inc. now owns 56 shares of the bank’s stock worth $77,000 after acquiring an additional 21 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
FCNCA has been the subject of several recent research reports. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Raymond James assumed coverage on First Citizens BancShares in a report on Tuesday, November 28th. They set a “market perform” rating for the company. DA Davidson reaffirmed a “neutral” rating on shares of First Citizens BancShares in a report on Monday, January 15th. UBS Group lifted their target price on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, The Goldman Sachs Group assumed coverage on First Citizens BancShares in a report on Thursday. They set a “buy” rating and a $1,950.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus target price of $1,667.71.
Get Our Latest Research Report on FCNCA
Insiders Place Their Bets
In other news, CEO Frank B. Holding, Jr. bought 622 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the purchase, the chief executive officer now directly owns 97,609 shares in the company, valued at $128,355,835. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Frank B. Holding, Jr. bought 622 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the purchase, the chief executive officer now directly owns 97,609 shares in the company, valued at $128,355,835. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Olivia Britton Holding bought 466 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the purchase, the insider now owns 121,694 shares of the company’s stock, valued at $160,027,610. The disclosure for this purchase can be found here. Insiders bought a total of 1,388 shares of company stock valued at $1,825,220 over the last quarter. 13.40% of the stock is owned by corporate insiders.
First Citizens BancShares Stock Down 0.8 %
Shares of NASDAQ FCNCA opened at $1,600.23 on Friday. First Citizens BancShares, Inc. has a 12 month low of $570.78 and a 12 month high of $1,625.00. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $23.24 billion, a price-to-earnings ratio of 2.04 and a beta of 0.88. The business has a 50-day moving average of $1,511.50 and a 200-day moving average of $1,435.45.
First Citizens BancShares (NASDAQ:FCNCA – Get Free Report) last issued its quarterly earnings data on Friday, January 26th. The bank reported $46.58 EPS for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Sell-side analysts expect that First Citizens BancShares, Inc. will post 177.52 earnings per share for the current fiscal year.
First Citizens BancShares Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Wednesday, February 28th. First Citizens BancShares’s dividend payout ratio is currently 0.84%.
About First Citizens BancShares
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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