Healthcare of Ontario Pension Plan Trust Fund Lowers Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Healthcare of Ontario Pension Plan Trust Fund decreased its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 89.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210 shares of the bank’s stock after selling 1,790 shares during the quarter. 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 have also recently made changes to their positions in the company. HB Wealth Management LLC increased its stake in shares of First Citizens BancShares by 7.9% in the 4th quarter. HB Wealth Management LLC now owns 191 shares of the bank’s stock valued at $271,000 after purchasing an additional 14 shares in the last quarter. Raymond James & Associates increased its position in shares of First Citizens BancShares by 25.1% in the fourth quarter. Raymond James & Associates now owns 15,328 shares of the bank’s stock valued at $21,750,000 after buying an additional 3,079 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of First Citizens BancShares by 145.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,406 shares of the bank’s stock valued at $1,995,000 after buying an additional 833 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of First Citizens BancShares by 380.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 15,798 shares of the bank’s stock worth $22,417,000 after buying an additional 12,513 shares during the period. Finally, Ritholtz Wealth Management lifted its position in shares of First Citizens BancShares by 17.6% during the 4th quarter. Ritholtz Wealth Management now owns 428 shares of the bank’s stock valued at $607,000 after buying an additional 64 shares in the last quarter. 61.18% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Price Performance

Shares of FCNCA stock opened at $2,051.05 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $29.80 billion, a PE ratio of 11.39 and a beta of 0.83. The firm’s 50-day moving average is $1,723.79 and its two-hundred day moving average is $1,617.85. First Citizens BancShares, Inc. has a 12 month low of $1,274.91 and a 12 month high of $2,059.10.

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

First Citizens BancShares Announces Dividend

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

Analyst Upgrades and Downgrades

FCNCA has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays upped their price target on shares of 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. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Jefferies Financial Group started coverage on First Citizens BancShares in a research note on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 price objective for the company. Finally, Raymond James upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price objective on the stock in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,875.36.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany sold 484 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 335 shares of the company’s stock, valued at $586,290.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Ellen R. Alemany sold 1,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $1,757.27, for a total transaction of $1,757,270.00. Following the completion of the transaction, the director now directly owns 1,335 shares in the company, valued at $2,345,955.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ellen R. Alemany sold 484 shares of the business’s stock in a transaction 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 approximately $586,290.20. The disclosure for this sale can be found here. Insiders have sold 2,000 shares of company stock worth $3,507,328 over the last quarter. 13.40% of the stock is currently owned by company insiders.

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.