SeaCrest Wealth Management LLC Takes Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

SeaCrest Wealth Management LLC purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 165 shares of the bank’s stock, valued at approximately $278,000.

Several other institutional investors have also recently added to or reduced their stakes in FCNCA. Capital Research Global Investors acquired a new position in First Citizens BancShares during the 1st quarter worth approximately $298,180,000. Norges Bank acquired a new stake in shares of First Citizens BancShares in the 4th quarter worth approximately $180,039,000. Vanguard Group Inc. grew its holdings in shares of First Citizens BancShares by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 1,064,822 shares of the bank’s stock worth $1,740,984,000 after acquiring an additional 47,167 shares during the period. Wellington Management Group LLP grew its holdings in shares of First Citizens BancShares by 21.1% in the 4th quarter. Wellington Management Group LLP now owns 239,563 shares of the bank’s stock worth $339,933,000 after acquiring an additional 41,793 shares during the period. Finally, Point72 Asset Management L.P. lifted its stake in First Citizens BancShares by 130.1% in the 4th quarter. Point72 Asset Management L.P. now owns 46,180 shares of the bank’s stock valued at $65,528,000 after buying an additional 26,107 shares in the last quarter. Institutional investors and hedge funds own 61.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Raymond James raised First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 target price on the stock in a research note on Tuesday, July 2nd. Jefferies Financial Group started coverage on First Citizens BancShares in a research note on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 price target on the stock. StockNews.com raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Piper Sandler increased their price target on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods increased their price target on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,920.82.

First Citizens BancShares Stock Down 0.9 %

Shares of FCNCA stock traded down $17.96 during trading hours on Tuesday, hitting $2,005.54. 27,764 shares of the company were exchanged, compared to its average volume of 85,742. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.10. First Citizens BancShares, Inc. has a one year low of $1,274.91 and a one year high of $2,174.80. The business’s 50-day simple moving average is $1,824.21 and its two-hundred day simple moving average is $1,693.02. The stock has a market capitalization of $29.14 billion, a price-to-earnings ratio of 11.18 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $50.87 EPS for the quarter, topping the consensus estimate of $44.91 by $5.96. First Citizens BancShares had a net margin of 18.19% and a return on equity of 15.09%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the company posted $52.60 earnings per share. Sell-side analysts predict that First Citizens BancShares, Inc. will post 195.31 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $1.64 dividend. The ex-dividend date is Friday, August 30th. This represents a $6.56 dividend on an annualized basis and a yield of 0.33%. First Citizens BancShares’s dividend payout ratio is currently 3.64%.

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.