Legal & General Group Plc Has $73.15 Million Stake in First Citizens BancShares, Inc. $FCNCA

Legal & General Group Plc decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 34,082 shares of the bank’s stock after selling 1,626 shares during the period. Legal & General Group Plc’s holdings in First Citizens BancShares were worth $73,146,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in First Citizens BancShares by 4.4% during the third quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock worth $778,785,000 after purchasing an additional 18,190 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in First Citizens BancShares by 117,518.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock worth $441,755,000 after acquiring an additional 205,658 shares in the last quarter. Alliancebernstein L.P. raised its position in First Citizens BancShares by 16.3% during the third quarter. Alliancebernstein L.P. now owns 78,310 shares of the bank’s stock worth $140,109,000 after acquiring an additional 10,948 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in First Citizens BancShares by 57.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 76,088 shares of the bank’s stock worth $164,247,000 after acquiring an additional 27,789 shares in the last quarter. Finally, UBS Group AG raised its position in First Citizens BancShares by 96.7% during the fourth quarter. UBS Group AG now owns 69,551 shares of the bank’s stock worth $149,269,000 after acquiring an additional 34,184 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,990.51 on Friday. The firm has a market capitalization of $23.06 billion, a PE ratio of 11.45, a PEG ratio of 1.53 and a beta of 0.63. The company’s 50-day moving average is $1,949.40 and its 200-day moving average is $1,992.23. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, beating the consensus estimate of $43.31 by $1.55. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. During the same period in the prior year, the firm earned $37.79 earnings per share. Equities analysts forecast that First Citizens BancShares, Inc. will post 177.84 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 15th. Investors of record on Friday, May 29th will be paid a $2.10 dividend. The ex-dividend date is Friday, May 29th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio is 4.83%.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 5,940 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the completion of the purchase, the chief executive officer owned 38,111 shares of the company’s stock, valued at approximately $65,810,837.02. The trade was a 18.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 6,198 shares of company stock valued at $10,661,547 in the last 90 days. Corporate insiders own 14.63% of the company’s stock.

Wall Street Analyst Weigh In

FCNCA has been the topic of several analyst reports. UBS Group set a $2,325.00 price target on shares of First Citizens BancShares in a research report on Wednesday, February 4th. JPMorgan Chase & Co. dropped their price target on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Zacks Research raised shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. TD Cowen dropped their price target on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2,215.91.

About First Citizens BancShares

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.