Wilbanks Smith & Thomas Asset Management LLC Has $1.48 Million Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Wilbanks Smith & Thomas Asset Management LLC reduced its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,045 shares of the bank’s stock after selling 14 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in First Citizens BancShares were worth $1,483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FCNCA. AQR Capital Management LLC boosted its stake in shares of First Citizens BancShares by 756.8% in the 3rd quarter. AQR Capital Management LLC now owns 38,436 shares of the bank’s stock valued at $53,046,000 after purchasing an additional 33,950 shares during the last quarter. FMR LLC boosted its stake in First Citizens BancShares by 17.2% in the third quarter. FMR LLC now owns 189,186 shares of the bank’s stock valued at $261,095,000 after acquiring an additional 27,729 shares during the last quarter. Nordea Investment Management AB grew its holdings in First Citizens BancShares by 3,091.6% during the 4th quarter. Nordea Investment Management AB now owns 23,905 shares of the bank’s stock worth $34,203,000 after acquiring an additional 23,156 shares during the period. International Assets Investment Management LLC bought a new stake in shares of First Citizens BancShares during the 4th quarter valued at $26,176,000. Finally, Vanguard Group Inc. lifted its stake in shares of First Citizens BancShares by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,010,749 shares of the bank’s stock valued at $1,394,935,000 after purchasing an additional 17,142 shares during the period. Institutional investors and hedge funds own 61.18% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of FCNCA traded up $31.38 during midday trading on Thursday, reaching $1,707.37. The stock had a trading volume of 14,173 shares, compared to its average volume of 81,915. The firm has a market cap of $24.79 billion, a PE ratio of 9.44 and a beta of 0.86. The firm has a 50 day simple moving average of $1,593.32 and a 200-day simple moving average of $1,487.76. First Citizens BancShares, Inc. has a one year low of $945.32 and a one year high of $1,810.03. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.82.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, May 30th. First Citizens BancShares’s payout ratio is presently 3.64%.

Wall Street Analyst Weigh In

FCNCA has been the subject of a number of recent analyst reports. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Monday. 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. The Goldman Sachs Group initiated coverage on First Citizens BancShares in a research note on Thursday, March 21st. They issued a “buy” rating and a $1,950.00 target price for the company. UBS Group increased their price target on First Citizens BancShares from $1,644.00 to $1,754.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Piper Sandler cut First Citizens BancShares from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $1,850.00 to $1,950.00 in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average target price of $1,829.90.

Insider Activity at First Citizens BancShares

In related news, major shareholder Olivia Britton Holding acquired 466 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were bought at an average cost of $1,315.00 per share, with a total value of $612,790.00. Following the completion of the transaction, the insider now directly owns 121,694 shares of the company’s stock, valued at $160,027,610. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Hope Holding Bryant purchased 300 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, February 21st. The stock was acquired at an average cost of $1,315.00 per share, for a total transaction of $394,500.00. Following the purchase, the insider now directly owns 1,978 shares of the company’s stock, valued at approximately $2,601,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Olivia Britton Holding acquired 466 shares of the stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of $1,315.00 per share, for a total transaction of $612,790.00. Following the transaction, the insider now directly owns 121,694 shares in the company, valued at $160,027,610. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 1,388 shares of company stock worth $1,825,220 and have sold 2,600 shares worth $4,458,964. 13.40% of the stock is owned by company insiders.

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.