First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 89.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 210 shares of the bank’s stock after selling 1,790 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in First Citizens BancShares were worth $343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. ORG Partners LLC purchased a new stake in First Citizens BancShares during the first quarter valued at about $29,000. Mather Group LLC. acquired a new stake in First Citizens BancShares during the 1st quarter worth approximately $31,000. Blue Trust Inc. raised its holdings in First Citizens BancShares by 100.0% in 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 during the period. GAMMA Investing LLC acquired a new position in First Citizens BancShares during the fourth quarter valued at approximately $30,000. Finally, Principal Securities Inc. purchased a new stake in First Citizens BancShares during the fourth quarter worth approximately $43,000. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group started coverage on First Citizens BancShares in a research note on Tuesday, July 9th. They issued a “buy” rating and a $2,005.00 target price for the company. Barclays boosted their price target on First Citizens BancShares from $1,850.00 to $1,950.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. DA Davidson reaffirmed a “neutral” rating and issued a $1,650.00 price objective (up previously from $1,600.00) on shares of First Citizens BancShares in a research report on Monday, April 15th. Finally, Raymond James raised shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 target price on the stock in a research report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,875.36.

First Citizens BancShares Trading Up 10.1 %

Shares of NASDAQ FCNCA opened at $2,051.05 on Friday. The stock has a market capitalization of $29.80 billion, a P/E ratio of 11.39 and a beta of 0.83. The stock’s 50 day moving average price is $1,723.79 and its two-hundred day moving average price is $1,617.85. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.77. First Citizens BancShares, Inc. has a 52-week low of $1,274.91 and a 52-week high of $2,059.10.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, April 25th. The bank reported $52.92 EPS for the quarter, topping analysts’ consensus estimates of $44.27 by $8.65. The firm 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%. On average, analysts anticipate that First Citizens BancShares, Inc. will post 191.52 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, August 30th. First Citizens BancShares’s dividend payout ratio (DPR) is 3.64%.

Insider Activity at First Citizens BancShares

In other news, Director Ellen R. Alemany sold 516 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 819 shares in the company, valued at $1,433,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ellen R. Alemany sold 516 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $1,750.00, for a total transaction of $903,000.00. Following the completion of the transaction, the director now directly owns 819 shares in the company, valued at $1,433,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ellen R. Alemany sold 484 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were 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 disclosure for this sale can be found here. Insiders sold 2,000 shares of company stock worth $3,507,328 in the last 90 days. 13.40% of the stock is currently owned by company insiders.

First Citizens BancShares Company 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.