Brown Advisory Inc. Boosts Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Brown Advisory Inc. raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCAGet Rating) by 81.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,486 shares of the bank’s stock after acquiring an additional 80,947 shares during the quarter. Brown Advisory Inc. owned approximately 1.13% of First Citizens BancShares worth $120,847,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at $28,000. TCI Wealth Advisors Inc. grew its stake in shares of First Citizens BancShares by 880.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 49 shares of the bank’s stock worth $33,000 after purchasing an additional 44 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of First Citizens BancShares during the 4th quarter worth $37,000. Sugarloaf Wealth Management LLC acquired a new position in shares of First Citizens BancShares during the 1st quarter worth $37,000. Finally, Fifth Third Bancorp acquired a new position in shares of First Citizens BancShares during the 1st quarter worth $43,000. Hedge funds and other institutional investors own 39.07% of the company’s stock.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $798.94 on Friday. The business’s 50-day moving average price is $685.67 and its 200 day moving average price is $700.30. The firm has a market cap of $12.78 billion, a P/E ratio of 14.31 and a beta of 1.08. First Citizens BancShares, Inc. has a 52-week low of $598.01 and a 52-week high of $947.71. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16.

First Citizens BancShares (NASDAQ:FCNCAGet Rating) last released its quarterly earnings results on Thursday, July 28th. The bank reported $16.86 earnings per share for the quarter, beating analysts’ consensus estimates of $13.77 by $3.09. First Citizens BancShares had a return on equity of 13.18% and a net margin of 20.83%. During the same period last year, the business posted $15.09 earnings per share. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 68.26 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.24%. The ex-dividend date is Tuesday, August 30th. First Citizens BancShares’s dividend payout ratio is currently 3.37%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday, April 28th.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. acquired 254 shares of the stock in a transaction dated Friday, June 10th. The shares were acquired at an average cost of $630.00 per share, for a total transaction of $160,020.00. Following the completion of the transaction, the chief executive officer now owns 92,212 shares in the company, valued at approximately $58,093,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Company Profile

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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.

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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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