First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,723 shares of the bank’s stock after selling 1,915 shares during the period. Deutsche Bank AG owned 0.10% of First Citizens BancShares worth $25,444,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of First Citizens BancShares by 54.5% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank’s stock valued at $32,000 after purchasing an additional 6 shares during the period. Community Bank N.A. acquired a new position in shares of First Citizens BancShares in the first quarter valued at approximately $44,000. Wayfinding Financial LLC acquired a new position in shares of First Citizens BancShares in the first quarter valued at approximately $64,000. Toth Financial Advisory Corp increased its holdings in shares of First Citizens BancShares by 263.6% in the first quarter. Toth Financial Advisory Corp now owns 40 shares of the bank’s stock valued at $74,000 after purchasing an additional 29 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $77,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Stock Up 1.2%

FCNCA opened at $1,904.74 on Thursday. The business’s fifty day moving average is $1,970.39 and its two-hundred day moving average is $1,917.68. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $25.31 billion, a price-to-earnings ratio of 11.24 and a beta of 0.64. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, July 25th. The bank reported $44.78 EPS for the quarter, topping analysts’ consensus estimates of $39.08 by $5.70. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%. Analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, August 29th. First Citizens BancShares’s payout ratio is presently 4.60%.

Insiders Place Their Bets

In related news, major shareholder Olivia Britton Holding acquired 409 shares of First Citizens BancShares stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the transaction, the insider directly owned 1,764 shares of the company’s stock, valued at $2,875,320. The trade was a 30.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Hope Holding Bryant acquired 409 shares of First Citizens BancShares stock in a transaction dated Thursday, August 7th. The stock was bought at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the transaction, the insider directly owned 1,764 shares of the company’s stock, valued at approximately $2,875,320. This represents a 30.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,494 shares of company stock worth $2,485,986. 13.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FCNCA shares. Jefferies Financial Group started coverage on First Citizens BancShares in a report on Wednesday, May 21st. They issued a “hold” rating and a $2,050.00 target price on the stock. Wall Street Zen lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, April 28th. Citigroup upped their price objective on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. UBS Group reaffirmed a “buy” rating and set a $2,410.00 price objective on shares of First Citizens BancShares in a report on Wednesday, July 9th. Finally, Piper Sandler set a $2,150.00 price objective on First Citizens BancShares and gave the stock a “neutral” rating in a report on Monday, July 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2,291.17.

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.