Thompson Siegel & Walmsley LLC Has $76.25 Million Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Thompson Siegel & Walmsley LLC cut its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 36,085 shares of the bank’s stock after selling 1,641 shares during the quarter. First Citizens BancShares comprises approximately 1.2% of Thompson Siegel & Walmsley LLC’s investment portfolio, making the stock its 18th largest holding. Thompson Siegel & Walmsley LLC’s holdings in First Citizens BancShares were worth $76,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at about $33,000. Hemington Wealth Management lifted its stake in shares of First Citizens BancShares by 60.0% in the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after purchasing an additional 6 shares during the period. Duncker Streett & Co. Inc. bought a new stake in First Citizens BancShares in the 4th quarter valued at about $36,000. Mather Group LLC. increased its position in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after buying an additional 5 shares in the last quarter. Finally, Asset Planning Inc bought a new stake in First Citizens BancShares in the 4th quarter valued at about $38,000. 78.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FCNCA has been the subject of a number of research analyst reports. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price for the company in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. The Goldman Sachs Group boosted their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft assumed coverage on First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. Finally, Barclays boosted their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

First Citizens BancShares Trading Up 1.6 %

NASDAQ:FCNCA opened at $1,755.93 on Thursday. The company has a market cap of $23.84 billion, a P/E ratio of 9.27, a P/E/G ratio of 0.94 and a beta of 0.81. The stock’s fifty day moving average price is $2,099.36 and its two-hundred day moving average price is $2,065.44. First Citizens BancShares, Inc. has a 1 year low of $1,515.02 and a 1 year high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. As a group, analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.95 dividend. The ex-dividend date is Friday, February 28th. This represents a $7.80 dividend on an annualized basis and a yield of 0.44%. First Citizens BancShares’s dividend payout ratio is presently 4.12%.

Insider Activity at First Citizens BancShares

In related news, CFO Craig L. Nix acquired 17 shares of the stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the acquisition, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.40% of the stock is owned by 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.