Mraz Amerine & Associates Inc. Reduces Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Mraz Amerine & Associates Inc. trimmed its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,316 shares of the bank’s stock after selling 9 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in First Citizens BancShares were worth $1,867,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted 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 worth $27,000 after buying an additional 10 shares during the last quarter. Castleview Partners LLC acquired a new position in shares of First Citizens BancShares in the 2nd quarter valued at $31,000. Lindbrook Capital LLC lifted its stake in shares of First Citizens BancShares by 53.3% in the 3rd quarter. Lindbrook Capital LLC now owns 23 shares of the bank’s stock valued at $32,000 after purchasing an additional 8 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at $35,000. Finally, Fred Alger Management LLC acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at $39,000. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other First Citizens BancShares news, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the transaction, the director now directly owns 4,842 shares in the company, valued at approximately $7,549,113.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Hope Holding Bryant acquired 300 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $1,315.00 per share, with a total value of $394,500.00. Following the completion of the acquisition, the insider now owns 1,978 shares in the company, valued at approximately $2,601,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ellen R. Alemany sold 600 shares of First Citizens BancShares stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $1,559.09, for a total value of $935,454.00. Following the transaction, the director now directly owns 4,842 shares of the company’s stock, valued at $7,549,113.78. The disclosure for this sale can be found here. Insiders have bought 1,388 shares of company stock worth $1,825,220 in the last quarter. 12.85% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on FCNCA. DA Davidson restated a “neutral” rating and set a $1,650.00 target price (up from $1,600.00) on shares of First Citizens BancShares in a report on Monday. StockNews.com lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. UBS Group increased their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. The Goldman Sachs Group initiated coverage on First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 target price on the stock. Finally, Barclays initiated coverage on First Citizens BancShares in a research report on Thursday, April 11th. They set an “equal weight” rating and a $1,850.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $1,768.63.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA traded up $17.49 during mid-day trading on Wednesday, reaching $1,550.00. 57,842 shares of the stock were exchanged, compared to its average volume of 81,361. The company has a 50 day simple moving average of $1,561.43 and a 200-day simple moving average of $1,465.85. The stock has a market capitalization of $22.51 billion, a P/E ratio of 1.98 and a beta of 0.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.82. First Citizens BancShares, Inc. has a 1 year low of $945.32 and a 1 year high of $1,651.73.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 26th. The bank reported $46.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $48.49 by ($1.91). The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a return on equity of 13.52% and a net margin of 51.04%. Analysts anticipate that First Citizens BancShares, Inc. will post 178.72 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $6.56 dividend on an annualized basis and a yield of 0.42%. First Citizens BancShares’s dividend payout ratio is presently 0.84%.

First Citizens BancShares Profile

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.