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

Mraz Amerine & Associates Inc. lessened its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,316 shares of the bank’s stock after selling 9 shares during the period. Mraz Amerine & Associates Inc.’s holdings in First Citizens BancShares were worth $1,867,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in First Citizens BancShares by 106.0% during the first quarter. Vanguard Group Inc. now owns 1,105,554 shares of the bank’s stock worth $735,855,000 after purchasing an additional 568,929 shares during the period. Invesco Ltd. boosted its position in First Citizens BancShares by 113.0% during the first quarter. Invesco Ltd. now owns 371,016 shares of the bank’s stock worth $246,949,000 after purchasing an additional 196,851 shares during the period. Sessa Capital IM L.P. bought a new position in First Citizens BancShares during the first quarter worth about $158,509,000. Imprint Wealth LLC bought a new position in First Citizens BancShares during the second quarter worth about $15,016,000. Finally, State Street Corp boosted its position in First Citizens BancShares by 53.7% during the first quarter. State Street Corp now owns 402,593 shares of the bank’s stock worth $267,966,000 after purchasing an additional 140,626 shares during the period. Hedge funds and other institutional investors own 61.18% of the company’s stock.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 622 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the acquisition, the chief executive officer now owns 97,609 shares in the company, valued at approximately $128,355,835. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, Director Ellen R. Alemany sold 600 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $1,559.09, for a total value of $935,454.00. Following the transaction, the director now owns 4,842 shares in the company, valued at approximately $7,549,113.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Frank B. Holding, Jr. purchased 622 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $1,315.00 per share, for a total transaction of $817,930.00. Following the purchase, the chief executive officer now owns 97,609 shares in the company, valued at $128,355,835. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,388 shares of company stock valued at $1,825,220. 12.85% of the stock is currently owned by company insiders.

First Citizens BancShares Trading Up 1.1 %

Shares of NASDAQ FCNCA traded up $17.49 during mid-day trading on Wednesday, hitting $1,550.00. The stock had a trading volume of 57,842 shares, compared to its average volume of 81,361. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.14 and a current ratio of 1.14. First Citizens BancShares, Inc. has a 1 year low of $945.32 and a 1 year high of $1,651.73. The business has a 50 day moving average price of $1,561.43 and a two-hundred day moving average price of $1,465.85. The firm has a market cap of $22.51 billion, a P/E ratio of 1.98 and a beta of 0.89.

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

First Citizens BancShares Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group increased their target price on shares of First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. The Goldman Sachs Group began coverage on shares of First Citizens BancShares in a research report on Thursday, March 21st. They set a “buy” rating and a $1,950.00 target price for the company. Wedbush restated an “outperform” rating and issued a $1,800.00 price objective on shares of First Citizens BancShares in a research report on Monday, January 29th. DA Davidson restated a “neutral” rating and issued a $1,650.00 price objective (up from $1,600.00) on shares of First Citizens BancShares in a research report on Monday. Finally, StockNews.com lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, First Citizens BancShares has a consensus rating of “Hold” and a consensus target price of $1,768.63.

About First Citizens BancShares

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.