Core Insights - Armor Advisors L.L.C. reduced its holdings in First Citizens BancShares by 38.6% in Q3, owning 1,537 shares valued at $2,750,000, making it the 12th largest position in their portfolio [2] - Institutional investors own 78.01% of First Citizens BancShares, with several firms adjusting their positions, including Allworth Financial LP increasing its stake by 35.3% in Q2 [3] Financial Performance - First Citizens BancShares reported earnings per share (EPS) of $51.27 for the last quarter, exceeding analysts' expectations of $44.24 by $7.03, with revenue of $1.67 billion compared to estimates of $2.24 billion [5] - The company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 12.17, and a beta of 0.70, with a 1-year low of $1,473.62 and a high of $2,232.21 [4] Dividend Information - First Citizens BancShares announced a quarterly dividend of $2.10, representing an annualized dividend of $8.40 and a yield of 0.4%, with a payout ratio of 5.07% [6] Analyst Ratings - Analysts have varied opinions on First Citizens BancShares, with JPMorgan Chase raising the target price to $2,500 and maintaining an "overweight" rating, while Goldman Sachs downgraded the stock from "buy" to "hold" with a target of $2,300 [7] - The average rating for the stock is "Moderate Buy" with a price target of $2,238.27 [7] Insider Activity - CEO Frank B. Holding, Jr. purchased 135 shares at an average price of $1,629.67, increasing his ownership by 5.64% to a total of 2,527 shares valued at approximately $4,118,176.09 [9] Company Overview - First Citizens BancShares, Inc. is a bank holding company for First Citizens Bank, providing a range of financial services since its founding in 1898 [10][11]