SeaCrest Wealth Management LLC purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA – Free Report) 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 – Get Free Report) 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.
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