Truist Financial Corp Has $13.35 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Truist Financial Corp decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,410 shares of the bank’s stock after selling 307 shares during the period. Truist Financial Corp’s holdings in First Citizens BancShares were worth $13,352,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. raised its stake in First Citizens BancShares by 100.0% during the 4th quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock worth $27,000 after buying an additional 10 shares during the period. GAMMA Investing LLC acquired a new stake in First Citizens BancShares in the fourth quarter valued at approximately $30,000. Lindbrook Capital LLC raised its position in shares of First Citizens BancShares by 53.3% during the third 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. Harvest Fund Management Co. Ltd raised its position in shares of First Citizens BancShares by 362.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 37 shares of the bank’s stock worth $52,000 after purchasing an additional 29 shares during the period. Finally, Federated Hermes Inc. increased its stake in First Citizens BancShares by 60.0% during the 3rd quarter. Federated Hermes Inc. now owns 56 shares of the bank’s stock valued at $77,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 61.18% of the company’s stock.

Insider Buying and Selling

In related news, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $1,766.24, for a total value of $1,766,240.00. Following the sale, the director now owns 2,335 shares of the company’s stock, valued at approximately $4,124,170.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ellen R. Alemany sold 1,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $1,766.24, for a total transaction of $1,766,240.00. Following the completion of the transaction, the director now owns 2,335 shares in the company, valued at approximately $4,124,170.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellen R. Alemany sold 600 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the completion of the sale, the director now owns 4,842 shares in the company, valued at $7,549,113.78. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,388 shares of company stock worth $1,825,220 and sold 2,600 shares worth $4,458,964. 12.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FCNCA shares. Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a research note on Monday, January 29th. UBS Group boosted their price objective 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. Barclays raised 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 report on Friday, April 26th. DA Davidson reiterated a “neutral” rating and set a $1,650.00 price target (up previously from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $2,100.00 price target (up from $1,900.00) on shares of First Citizens BancShares in a research report on Friday, April 26th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,829.90.

First Citizens BancShares Stock Down 0.6 %

FCNCA stock opened at $1,675.99 on Thursday. First Citizens BancShares, Inc. has a 1-year low of $945.32 and a 1-year high of $1,810.03. The stock has a market cap of $24.34 billion, a P/E ratio of 9.30 and a beta of 0.89. The stock’s fifty day simple moving average is $1,593.32 and its two-hundred day simple moving average is $1,487.76. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $1.64 per share. The ex-dividend date is Thursday, May 30th. This represents a $6.56 annualized dividend and a yield of 0.39%. First Citizens BancShares’s payout ratio is currently 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.