Emerald Advisers LLC Decreases Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Emerald Advisers LLC reduced its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.2% during the first quarter, Holdings Channel reports. The institutional investor owned 199 shares of the bank’s stock after selling 11 shares during the quarter. Emerald Advisers LLC’s holdings in First Citizens BancShares were worth $369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in First Citizens BancShares in the fourth quarter worth about $298,426,000. GAMMA Investing LLC raised its position in shares of First Citizens BancShares by 169,861.1% in the 1st quarter. GAMMA Investing LLC now owns 122,372 shares of the bank’s stock valued at $226,892,000 after purchasing an additional 122,300 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in First Citizens BancShares by 35.7% in the 4th quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock worth $828,510,000 after purchasing an additional 103,137 shares in the last quarter. Capital International Investors grew its position in First Citizens BancShares by 78.2% during the 4th quarter. Capital International Investors now owns 172,723 shares of the bank’s stock worth $364,967,000 after purchasing an additional 75,785 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in First Citizens BancShares by 83.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,523 shares of the bank’s stock valued at $227,198,000 after purchasing an additional 48,994 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Down 0.7%

First Citizens BancShares stock opened at $2,117.62 on Monday. The business’s 50-day moving average price is $1,907.01 and its 200 day moving average price is $1,937.41. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.77. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.97 and a beta of 0.64. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, topping analysts’ consensus estimates of $37.72 by $0.07. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.22 billion. First Citizens BancShares had a net margin of 17.10% and a return on equity of 11.98%. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were given a dividend of $1.95 per share. The ex-dividend date was Friday, May 30th. This represents a $7.80 annualized dividend and a yield of 0.37%. First Citizens BancShares’s dividend payout ratio is presently 4.47%.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. bought 350 shares of the 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 purchase, the chief executive officer directly owned 2,758 shares in the company, valued at $4,440,380. The trade was a 14.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 13.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. UBS Group reiterated a “buy” rating and set a $2,410.00 price objective on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Wall Street Zen lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. Cowen began coverage on First Citizens BancShares in a research note on Wednesday, May 14th. They set a “buy” rating on the stock. JPMorgan Chase & Co. increased their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Finally, 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 research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,299.50.

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.