Mraz Amerine & Associates Inc. Sells 34 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mraz Amerine & Associates Inc. lessened its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,241 shares of the bank’s stock after selling 34 shares during the period. Mraz Amerine & Associates Inc.’s holdings in First Citizens BancShares were worth $2,089,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in FCNCA. Vanguard Group Inc. raised its position in First Citizens BancShares by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 1,064,822 shares of the bank’s stock valued at $1,740,984,000 after purchasing an additional 47,167 shares during the last quarter. Wellington Management Group LLP lifted its stake in First Citizens BancShares by 21.1% in the fourth quarter. Wellington Management Group LLP now owns 239,563 shares of the bank’s stock worth $339,933,000 after acquiring an additional 41,793 shares during the period. Dimensional Fund Advisors LP boosted its holdings in First Citizens BancShares by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 186,822 shares of the bank’s stock valued at $265,120,000 after acquiring an additional 534 shares in the last quarter. Capital Research Global Investors purchased a new position in First Citizens BancShares during the 1st quarter valued at $298,180,000. Finally, Norges Bank bought a new position in First Citizens BancShares in the 4th quarter worth $180,039,000. 61.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James raised First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 target price for the company in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods raised their price objective on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Piper Sandler upped their target price on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Jefferies Financial Group assumed coverage on shares of First Citizens BancShares in a research report on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 price target for the company. Finally, Barclays upped their price objective on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,920.82.

First Citizens BancShares Stock Performance

Shares of FCNCA traded up $38.73 during trading hours on Monday, hitting $2,030.70. The stock had a trading volume of 73,300 shares, compared to its average volume of 85,518. First Citizens BancShares, Inc. has a 12 month low of $1,274.91 and a 12 month high of $2,174.80. The stock has a fifty day moving average price of $1,885.79 and a 200 day moving average price of $1,724.22. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $29.38 billion, a PE ratio of 11.27 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $50.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $44.91 by $5.96. First Citizens BancShares had a net margin of 18.19% and a return on equity of 14.84%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the firm posted $52.60 earnings per share. Analysts anticipate that First Citizens BancShares, Inc. will post 200.92 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $1.64 per share. The ex-dividend date is Friday, August 30th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.32%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 3.64%.

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.