Mawer Investment Management Ltd. Sells 781 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mawer Investment Management Ltd. lessened its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 8.0% in the first quarter, Holdings Channel.com reports. The firm owned 8,922 shares of the bank’s stock after selling 781 shares during the period. Mawer Investment Management Ltd.’s holdings in First Citizens BancShares were worth $16,542,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FCNCA. GAMMA Investing LLC increased its holdings in First Citizens BancShares by 169,861.1% during the 1st quarter. GAMMA Investing LLC now owns 122,372 shares of the bank’s stock worth $226,892,000 after purchasing an additional 122,300 shares in the last quarter. Capital International Investors increased its holdings 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 worth $227,198,000 after purchasing an additional 48,994 shares in the last quarter. FMR LLC increased its holdings in First Citizens BancShares by 10.5% during the 4th quarter. FMR LLC now owns 357,629 shares of the bank’s stock worth $755,677,000 after purchasing an additional 34,097 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in First Citizens BancShares during the 4th quarter worth about $66,972,000. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 2.2%

Shares of FCNCA stock opened at $2,050.04 on Tuesday. The firm has a 50 day moving average price of $1,955.37 and a two-hundred day moving average price of $1,937.27. 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 company has a market capitalization of $27.25 billion, a PE ratio of 12.10 and a beta of 0.64. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.08 by $5.70. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.30%. As a group, analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $7.80 annualized dividend and a yield of 0.38%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.60%.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 350 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was bought at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the transaction, the chief executive officer owned 2,758 shares in the company, valued at approximately $4,440,380. This represents a 14.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 13.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FCNCA shares. UBS Group reiterated a “buy” rating and set a $2,410.00 target price on shares of First Citizens BancShares in a report on Wednesday, July 9th. Jefferies Financial Group initiated coverage on First Citizens BancShares in a report on Wednesday, May 21st. They set a “hold” rating and a $2,050.00 target price for the company. JPMorgan Chase & Co. raised 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. Wall Street Zen cut First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, April 28th. Finally, Citigroup raised their price objective on First Citizens BancShares from $1,900.00 to $2,050.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.