First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,102 shares of the bank’s stock after selling 146 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in First Citizens BancShares were worth $1,802,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Blue Trust Inc. raised its stake in First Citizens BancShares by 100.0% during the fourth quarter. Blue Trust Inc. now owns 20 shares of the bank’s stock valued at $27,000 after buying an additional 10 shares in the last quarter. ORG Partners LLC acquired a new stake in First Citizens BancShares during the first quarter valued at approximately $29,000. GAMMA Investing LLC bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $30,000. Mather Group LLC. bought a new position in shares of First Citizens BancShares during the first quarter valued at approximately $31,000. Finally, Principal Securities Inc. bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 61.18% of the company’s stock.

Insider Activity

In other news, Director Ellen R. Alemany sold 484 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $1,750.12, for a total transaction of $847,058.08. Following the completion of the sale, the director now owns 335 shares in the company, valued at approximately $586,290.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ellen R. Alemany sold 484 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $1,750.12, for a total value of $847,058.08. Following the completion of the sale, the director now owns 335 shares in the company, valued at $586,290.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen R. Alemany sold 516 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $1,750.00, for a total value of $903,000.00. Following the completion of the sale, the director now owns 819 shares of the company’s stock, valued at approximately $1,433,250. The disclosure for this sale can be found here. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Performance

FCNCA opened at $2,095.84 on Tuesday. The company has a market capitalization of $30.45 billion, a price-to-earnings ratio of 11.64 and a beta of 0.83. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.10 and a quick ratio of 1.10. First Citizens BancShares, Inc. has a 1-year low of $1,274.91 and a 1-year high of $2,146.77. The business has a 50 day moving average price of $1,743.17 and a two-hundred day moving average price of $1,633.80.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $50.87 EPS for the quarter, beating analysts’ consensus estimates of $44.91 by $5.96. First Citizens BancShares had a return on equity of 15.09% and a net margin of 18.19%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the firm earned $52.60 EPS. Research analysts predict that First Citizens BancShares, Inc. will post 192.23 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $1.64 per share. The ex-dividend date is Friday, August 30th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.31%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 3.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Jefferies Financial Group assumed coverage on First Citizens BancShares in a report on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 target price for the company. Raymond James raised First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 target price for the company in a report on Tuesday, July 2nd. Piper Sandler increased their price objective on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Friday. DA Davidson reissued a “neutral” rating and issued a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods increased their price objective on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus target price of $1,920.82.

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.