Oppenheimer & Co. Inc. Has $3.25 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Oppenheimer & Co. Inc. cut its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,985 shares of the bank’s stock after selling 20 shares during the period. Oppenheimer & Co. Inc.’s holdings in First Citizens BancShares were worth $3,245,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FCNCA. Blue Trust Inc. grew 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 in the last quarter. ORG Partners LLC acquired a new stake in First Citizens BancShares during the first quarter worth about $29,000. GAMMA Investing LLC bought a new position in shares of First Citizens BancShares in the fourth quarter worth about $30,000. Mather Group LLC. bought a new position in shares of First Citizens BancShares in the first quarter worth about $31,000. Finally, Principal Securities Inc. bought a new position in shares of First Citizens BancShares in the fourth quarter worth about $43,000. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on FCNCA. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $2,100.00 target price (up previously from $1,900.00) on shares of First Citizens BancShares in a report on Friday, April 26th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Monday, April 29th. The Goldman Sachs Group started coverage on shares of First Citizens BancShares in a report on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 price objective for the company. Barclays raised their price objective on shares of First Citizens BancShares from $1,850.00 to $1,950.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Jefferies Financial Group started coverage on shares of First Citizens BancShares in a report on Tuesday. They issued a “buy” rating and a $2,005.00 price objective for the company. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average target price of $1,857.18.

Insider Activity at First Citizens BancShares

In related news, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction on Monday, April 29th. The shares were sold at an average price of $1,757.27, for a total value of $1,757,270.00. Following the completion of the sale, the director now owns 1,335 shares of the company’s stock, valued at approximately $2,345,955.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other First Citizens BancShares news, Director Ellen R. Alemany sold 516 shares of First Citizens BancShares stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $1,750.00, for a total transaction of $903,000.00. Following the transaction, the director now directly owns 819 shares of the company’s stock, valued at approximately $1,433,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ellen R. Alemany sold 1,000 shares of First Citizens BancShares stock in a transaction on Monday, April 29th. The stock was sold at an average price of $1,757.27, for a total value of $1,757,270.00. Following the sale, the director now owns 1,335 shares in the company, valued at $2,345,955.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,000 shares of company stock valued at $5,273,568. 13.40% of the stock is owned by company insiders.

First Citizens BancShares Trading Up 0.1 %

Shares of FCNCA stock traded up $1.51 during trading hours on Friday, hitting $1,748.90. 40,841 shares of the company were exchanged, compared to its average volume of 60,761. The firm has a market cap of $25.41 billion, a P/E ratio of 9.71 and a beta of 0.83. First Citizens BancShares, Inc. has a fifty-two week low of $1,274.91 and a fifty-two week high of $1,810.03. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.10. The company has a 50 day simple moving average of $1,706.91 and a two-hundred day simple moving average of $1,593.26.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $52.92 EPS for the quarter, topping the consensus estimate of $44.27 by $8.65. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.30 billion. First Citizens BancShares had a net margin of 18.22% and a return on equity of 15.48%. Equities analysts anticipate that First Citizens BancShares, Inc. will post 191.52 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 0.38%. The ex-dividend date was Friday, May 31st. First Citizens BancShares’s payout ratio is currently 3.64%.

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.