JT Stratford LLC Has $2.20 Million Position in First Citizens BancShares, Inc. $FCNCA

JT Stratford LLC lowered its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,185 shares of the bank’s stock after selling 62 shares during the period. JT Stratford LLC’s holdings in First Citizens BancShares were worth $2,197,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in First Citizens BancShares by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 401,167 shares of the bank’s stock worth $743,815,000 after purchasing an additional 9,070 shares in the last quarter. Egerton Capital UK LLP raised its position in First Citizens BancShares by 21.7% in the first quarter. Egerton Capital UK LLP now owns 124,773 shares of the bank’s stock worth $231,344,000 after purchasing an additional 22,257 shares in the last quarter. GAMMA Investing LLC raised its position in First Citizens BancShares by 169,861.1% in the first 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in First Citizens BancShares by 83.7% in the fourth 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. Finally, Nuveen LLC acquired a new position in First Citizens BancShares in the first quarter worth about $149,963,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insider Activity

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 600 shares of First Citizens BancShares stock in a transaction on Thursday, August 7th. The shares were purchased at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the completion of the purchase, the chief executive officer owned 32,300 shares in the company, valued at $54,869,625. The trade was a 1.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hope Holding Bryant acquired 409 shares of First Citizens BancShares stock in a transaction on Thursday, August 7th. The stock was acquired at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the purchase, the insider owned 1,764 shares of the company’s stock, valued at approximately $2,875,320. The trade was a 30.18% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 1,494 shares of company stock valued at $2,485,986 over the last three months. 13.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on FCNCA shares. Jefferies Financial Group started coverage on shares of First Citizens BancShares in a research note on Wednesday, May 21st. They set a “hold” rating and a $2,050.00 price objective on the stock. TD Cowen started coverage on shares of First Citizens BancShares in a research note on Thursday, May 15th. They set a “buy” rating and a $2,400.00 price objective on the stock. Piper Sandler set a $2,150.00 price objective on shares of First Citizens BancShares and gave the stock a “neutral” rating in a research note on Monday, July 28th. Citigroup upped their price objective on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Finally, Barclays decreased their price objective on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2,291.17.

First Citizens BancShares Price Performance

FCNCA opened at $1,930.72 on Tuesday. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50 day simple moving average is $1,974.89 and its 200-day simple moving average is $1,907.74. The stock has a market capitalization of $24.95 billion, a P/E ratio of 11.39 and a beta of 0.64.

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

First Citizens BancShares Announces Dividend

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

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.