Brandywine Global Investment Management LLC Has $15.55 Million Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Brandywine Global Investment Management LLC decreased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 5.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,357 shares of the bank's stock after selling 406 shares during the quarter. Brandywine Global Investment Management LLC owned 0.05% of First Citizens BancShares worth $15,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FCNCA. M&T Bank Corp boosted its position in shares of First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank's stock worth $1,117,000 after buying an additional 5 shares during the period. Mather Group LLC. lifted its stake in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after acquiring an additional 5 shares in the last quarter. Private Advisor Group LLC boosted its position in First Citizens BancShares by 3.0% during the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank's stock worth $363,000 after acquiring an additional 5 shares during the period. Exencial Wealth Advisors LLC increased its holdings in shares of First Citizens BancShares by 1.2% in the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank's stock valued at $904,000 after purchasing an additional 5 shares during the period. Finally, Hemington Wealth Management lifted its position in shares of First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank's stock worth $33,000 after purchasing an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company's stock.

Remove Ads

First Citizens BancShares Stock Performance

Shares of FCNCA traded down $60.85 during mid-day trading on Friday, hitting $1,571.21. The company's stock had a trading volume of 259,716 shares, compared to its average volume of 87,131. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,412.93. The stock's 50-day moving average is $1,978.80 and its two-hundred day moving average is $2,049.30. The firm has a market capitalization of $21.33 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

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

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares's dividend payout ratio (DPR) is presently 4.12%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup downgraded shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Piper Sandler raised shares of First Citizens BancShares from a "neutral" rating to an "overweight" rating and set a $2,250.00 price target on the stock in a research note on Tuesday, March 11th. JPMorgan Chase & Co. lifted their price objective on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group dropped 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 research report on Tuesday, March 18th. Finally, Truist Financial raised their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,288.08.

Insider Activity

In related news, CFO Craig L. Nix purchased 17 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at $2,146,369.33. This represents a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 13.19% of the company's stock.

First Citizens BancShares 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.