Verdence Capital Advisors LLC Decreases Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Verdence Capital Advisors LLC lessened its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 174 shares of the bank’s stock after selling 8 shares during the quarter. Verdence Capital Advisors LLC’s holdings in First Citizens BancShares were worth $247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vontobel Holding Ltd. increased its stake in First Citizens BancShares by 12.1% during the third quarter. Vontobel Holding Ltd. now owns 370 shares of the bank’s stock worth $511,000 after acquiring an additional 40 shares during the last quarter. CWM LLC grew its stake in shares of First Citizens BancShares by 35.5% in the third quarter. CWM LLC now owns 187 shares of the bank’s stock valued at $257,000 after buying an additional 49 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of First Citizens BancShares in the third quarter valued at $502,000. SG Americas Securities LLC grew its stake in shares of First Citizens BancShares by 28.1% in the third quarter. SG Americas Securities LLC now owns 1,526 shares of the bank’s stock valued at $2,106,000 after buying an additional 335 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of First Citizens BancShares by 1,040.0% in the third quarter. UMB Bank n.a. now owns 57 shares of the bank’s stock valued at $79,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Insider Activity

In related news, CEO Frank B. Holding, Jr. purchased 622 shares of First Citizens BancShares stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of $1,315.00 per share, with a total value of $817,930.00. Following the completion of the transaction, the chief executive officer now owns 97,609 shares of the company’s stock, valued at approximately $128,355,835. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other First Citizens BancShares news, insider Hope Holding Bryant bought 300 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were purchased at an average price of $1,315.00 per share, with a total value of $394,500.00. Following the completion of the acquisition, the insider now directly owns 1,978 shares of the company’s stock, valued at approximately $2,601,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 cost of $1,315.00 per share, for a total transaction of $817,930.00. Following the acquisition, the chief executive officer now directly owns 97,609 shares of the company’s stock, valued at $128,355,835. The disclosure for this purchase can be found here. Insiders acquired 1,388 shares of company stock worth $1,825,220 over the last ninety days. Corporate insiders own 12.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FCNCA. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. DA Davidson reiterated a “neutral” rating and issued a $1,650.00 target price (up from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. UBS Group lifted their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 price target on shares of First Citizens BancShares in a report on Monday, January 29th. Finally, The Goldman Sachs Group initiated coverage on First Citizens BancShares in a report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $1,768.63.

First Citizens BancShares Trading Down 0.0 %

FCNCA stock opened at $1,622.72 on Wednesday. The company has a market cap of $23.56 billion, a price-to-earnings ratio of 2.07 and a beta of 0.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. The business has a fifty day simple moving average of $1,566.98 and a 200-day simple moving average of $1,472.16. First Citizens BancShares, Inc. has a 52 week low of $945.32 and a 52 week high of $1,652.04.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $48.49 by ($1.91). First Citizens BancShares had a net margin of 51.04% and a return on equity of 13.52%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. On average, equities research analysts expect that First Citizens BancShares, Inc. will post 177.19 EPS for the current year.

First Citizens BancShares 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.