Laird Norton Wetherby Wealth Management LLC Sells 22 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Laird Norton Wetherby Wealth Management LLC lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187 shares of the bank’s stock after selling 22 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in First Citizens BancShares were worth $395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. boosted its holdings in shares of First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares in the last quarter. Private Advisor Group LLC raised its stake in First Citizens BancShares by 3.0% during the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock worth $363,000 after buying an additional 5 shares during the period. Exencial Wealth Advisors LLC raised its stake in shares of First Citizens BancShares by 1.2% in the fourth quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $904,000 after purchasing an additional 5 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of First Citizens BancShares by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 155 shares of the bank’s stock worth $328,000 after purchasing an additional 5 shares during the last quarter. Finally, Hemington Wealth Management increased its position in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. bought 350 shares of First Citizens BancShares stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $1,610.00 per share, with a total value of $563,500.00. Following the completion of the transaction, the chief executive officer now owns 2,758 shares in the company, valued at $4,440,380. The trade was a 14.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Craig L. Nix acquired 17 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost 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 $2,146,369.33. This trade represents a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.40% of the stock is currently owned by corporate insiders.

First Citizens BancShares Trading Up 0.2%

NASDAQ:FCNCA opened at $1,966.55 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $26.70 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.94 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. The business has a fifty day moving average price of $1,780.28 and a 200-day moving average price of $2,008.55.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.22 billion. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays reduced their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. Piper Sandler upgraded First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price objective on the stock in a report on Tuesday, March 11th. The Goldman Sachs Group cut their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Truist Financial lifted their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,336.58.

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.