FORVIS Wealth Advisors LLC Sells 426 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

FORVIS Wealth Advisors LLC lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 37.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 708 shares of the bank’s stock after selling 426 shares during the period. FORVIS Wealth Advisors LLC’s holdings in First Citizens BancShares were worth $1,157,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FCNCA. Vanguard Group Inc. raised its stake in First Citizens BancShares by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,017,655 shares of the bank’s stock valued at $1,444,022,000 after purchasing an additional 6,906 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of First Citizens BancShares by 5.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 262,267 shares of the bank’s stock valued at $361,956,000 after acquiring an additional 13,658 shares during the last quarter. Wellington Management Group LLP grew its position 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 in the last quarter. Dimensional Fund Advisors LP grew its position 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 worth $265,120,000 after acquiring an additional 534 shares in the last quarter. Finally, Norges Bank bought a new stake in First Citizens BancShares during the fourth quarter worth approximately $180,039,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Stock Down 0.7 %

Shares of FCNCA stock traded down $12.10 during trading hours on Thursday, reaching $1,716.10. 41,332 shares of the company’s stock were exchanged, compared to its average volume of 73,182. The stock has a market cap of $24.93 billion, a PE ratio of 9.53 and a beta of 0.83. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.77. The stock’s fifty day moving average price is $1,705.12 and its two-hundred day moving average price is $1,580.93. First Citizens BancShares, Inc. has a 1 year low of $1,241.05 and a 1 year high of $1,810.03.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $52.92 earnings per share for the quarter, beating analysts’ consensus estimates of $44.27 by $8.65. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.30 billion. First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.48%. Research analysts predict that First Citizens BancShares, Inc. will post 190.55 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 0.38%. The ex-dividend date was Friday, May 31st. First Citizens BancShares’s payout ratio is 3.64%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. The Goldman Sachs Group began coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target on the stock. Barclays boosted their target price on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Piper Sandler downgraded First Citizens BancShares from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $1,850.00 to $1,950.00 in a report on Friday, April 26th. Raymond James raised First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price target for the company in a research note on Tuesday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $2,100.00 price objective (up previously from $1,900.00) on shares of First Citizens BancShares in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,842.40.

Insider Activity

In other First Citizens BancShares news, Director Ellen R. Alemany sold 1,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $1,757.27, for a total transaction of $1,757,270.00. Following the sale, the director now directly owns 1,335 shares of the company’s stock, valued at approximately $2,345,955.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Citizens BancShares news, Director Ellen R. Alemany sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $1,757.27, for a total value of $1,757,270.00. Following the sale, the director now owns 1,335 shares in the company, valued at approximately $2,345,955.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ellen R. Alemany sold 516 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1,750.00, for a total transaction of $903,000.00. Following the sale, the director now directly owns 819 shares in the company, valued at approximately $1,433,250. The disclosure for this sale can be found here. Insiders have sold 3,000 shares of company stock valued at $5,273,568 in the last ninety days. Insiders own 12.85% of the company’s stock.

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.