Hsbc Holdings PLC Has $18.37 Million Position in First Citizens BancShares, Inc. $FCNCA

Hsbc Holdings PLC lessened its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 18.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,551 shares of the bank’s stock after selling 1,959 shares during the period. Hsbc Holdings PLC’s holdings in First Citizens BancShares were worth $18,369,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of First Citizens BancShares by 117,518.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after purchasing an additional 205,658 shares during the period. Norges Bank acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth $116,565,000. River Road Asset Management LLC grew its stake in shares of First Citizens BancShares by 574.0% during the fourth quarter. River Road Asset Management LLC now owns 55,402 shares of the bank’s stock worth $118,903,000 after purchasing an additional 47,182 shares during the period. Orion Porfolio Solutions LLC increased its holdings in First Citizens BancShares by 2,057.4% in the second quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after purchasing an additional 45,304 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in First Citizens BancShares by 13,512.7% in the fourth quarter. M&T Bank Corp now owns 38,524 shares of the bank’s stock valued at $82,679,000 after purchasing an additional 38,241 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Insider Activity at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. acquired 528 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of $1,813.37 per share, with a total value of $957,459.36. Following the transaction, the chief executive officer owned 64,100 shares of the company’s stock, valued at $116,237,017. The trade was a 0.83% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 7,190 shares of company stock worth $12,573,868 in the last quarter. Company insiders own 14.63% of the company’s stock.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price on the stock. in a report on Wednesday, April 8th. JPMorgan Chase & Co. lowered their price target on First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Wall Street Zen downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a research note on Friday, April 24th. Finally, Zacks Research upgraded shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2,215.91.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $2,089.21 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day simple moving average of $2,012.49 and a 200 day simple moving average of $2,020.46. First Citizens BancShares, Inc. has a 52-week low of $1,623.76 and a 52-week high of $2,232.21. The firm has a market capitalization of $24.21 billion, a PE ratio of 12.02, a P/E/G ratio of 1.63 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the company posted $37.79 EPS. Sell-side analysts predict that First Citizens BancShares, Inc. will post 175.61 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, May 29th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.83%.

First Citizens BancShares 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.