Balyasny Asset Management L.P. Sells 636 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Balyasny Asset Management L.P. decreased its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 68.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 289 shares of the bank’s stock after selling 636 shares during the quarter. Balyasny Asset Management L.P.’s holdings in First Citizens BancShares were worth $611,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FCNCA. Barclays PLC increased its stake in shares of First Citizens BancShares by 19.2% in the 3rd quarter. Barclays PLC now owns 7,195 shares of the bank’s stock valued at $13,246,000 after buying an additional 1,158 shares during the period. JPMorgan Chase & Co. increased its stake in shares of First Citizens BancShares by 6.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock valued at $531,961,000 after buying an additional 18,501 shares during the period. Wedmont Private Capital acquired a new stake in shares of First Citizens BancShares in the 4th quarter valued at $219,000. SeaCrest Wealth Management LLC increased its stake in shares of First Citizens BancShares by 20.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 214 shares of the bank’s stock valued at $453,000 after buying an additional 37 shares during the period. Finally, Park Avenue Securities LLC increased its stake in shares of First Citizens BancShares by 25.1% in the 4th quarter. Park Avenue Securities LLC now owns 494 shares of the bank’s stock valued at $1,044,000 after buying an additional 99 shares during the period. Institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on FCNCA. Keefe, Bruyette & Woods lifted their target price on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. TD Cowen began coverage on First Citizens BancShares in a research note on Thursday. They issued a “buy” rating and a $2,400.00 target price for the company. StockNews.com cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. Finally, The Goldman Sachs Group decreased their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average target price of $2,336.58.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. purchased 350 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were bought at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,758 shares in the company, valued at approximately $4,440,380. This trade represents a 14.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the acquisition, the chief financial officer now owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This represents a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Up 0.2%

NASDAQ:FCNCA opened at $1,966.55 on Friday. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a market cap of $26.70 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 0.94 and a beta of 0.64. The stock has a 50-day moving average price of $1,780.28 and a two-hundred day moving average price of $2,008.55.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.22 billion. As a group, equities analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 dividend on an annualized basis and a yield of 0.40%. First Citizens BancShares’s payout ratio is 4.47%.

First Citizens BancShares Company 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.