Strs Ohio Sells 734 Shares of First Citizens BancShares, Inc. $FCNCA

Strs Ohio decreased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 76.4% during the third quarter, Holdings Channel reports. The firm owned 227 shares of the bank’s stock after selling 734 shares during the quarter. Strs Ohio’s holdings in First Citizens BancShares were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FCNCA. Tranquility Partners LLC purchased a new stake in First Citizens BancShares during the 3rd quarter valued at $286,000. Rakuten Investment Management Inc. purchased a new position in shares of First Citizens BancShares in the 3rd quarter worth $46,540,000. Allegiance Financial Group Advisory Services LLC grew its holdings in shares of First Citizens BancShares by 14.7% in the third quarter. Allegiance Financial Group Advisory Services LLC now owns 1,186 shares of the bank’s stock worth $2,122,000 after acquiring an additional 152 shares during the period. Root Financial Partners LLC purchased a new stake in First Citizens BancShares during the third quarter valued at $32,000. Finally, Arkadios Wealth Advisors purchased a new stake in First Citizens BancShares during the third quarter valued at $234,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FCNCA shares. UBS Group restated a “buy” rating and set a $2,500.00 price target on shares of First Citizens BancShares in a research note on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their price target on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Keefe, Bruyette & Woods cut their price objective on shares of First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Finally, Piper Sandler upped their price objective on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average target price of $2,254.18.

Insider Buying and Selling

In related news, Director Ellen R. Alemany acquired 300 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was acquired at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the acquisition, the director directly owned 300 shares in the company, valued at $300,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frank B. Holding, Jr. bought 135 shares of the stock in a transaction dated Wednesday, November 26th. The stock was bought at an average cost of $1,629.67 per share, for a total transaction of $220,005.45. Following the acquisition, the chief executive officer directly owned 2,527 shares of the company’s stock, valued at approximately $4,118,176.09. This represents a 5.64% increase in their position. The disclosure for this purchase is available in the SEC filing. 13.40% of the stock is currently owned by insiders.

First Citizens BancShares Stock Up 1.8%

Shares of FCNCA stock opened at $2,069.57 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,245.33. The company’s fifty day moving average price is $2,078.48 and its 200-day moving average price is $1,949.51. The company has a market capitalization of $25.75 billion, a price-to-earnings ratio of 12.49 and a beta of 0.69.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%. Sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is 5.07%.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.