Brandywine Global Investment Management LLC Decreases Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Brandywine Global Investment Management LLC lessened its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,357 shares of the bank’s stock after selling 406 shares during the period. Brandywine Global Investment Management LLC owned about 0.05% of First Citizens BancShares worth $15,545,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FCNCA. Cerity Partners LLC lifted its holdings in shares of First Citizens BancShares by 34.0% during the third quarter. Cerity Partners LLC now owns 1,290 shares of the bank’s stock valued at $2,375,000 after purchasing an additional 327 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in First Citizens BancShares by 16.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,628 shares of the bank’s stock valued at $12,202,000 after acquiring an additional 946 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First Citizens BancShares by 6.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,162 shares of the bank’s stock valued at $3,980,000 after acquiring an additional 123 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of First Citizens BancShares by 15.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock valued at $107,749,000 after acquiring an additional 7,613 shares during the last quarter. Finally, Martingale Asset Management L P bought a new stake in shares of First Citizens BancShares in the third quarter worth approximately $258,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $1,835.10 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. First Citizens BancShares, Inc. has a 12 month low of $1,518.00 and a 12 month high of $2,412.93. The stock has a market cap of $24.92 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 0.94 and a beta of 0.81. The company’s 50 day moving average is $2,025.58 and its two-hundred day moving average is $2,055.55.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating 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, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $1.95 dividend. The ex-dividend date was Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.43%. First Citizens BancShares’s payout ratio is 4.12%.

Insider Transactions at First Citizens BancShares

In related news, CFO Craig L. Nix bought 17 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now owns 1,141 shares in the company, valued at $2,146,369.33. The trade was a 1.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 13.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FCNCA. Citigroup cut shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Truist Financial lifted their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a report on Wednesday, January 29th. The Goldman Sachs Group lowered their target price on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,288.08.

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.