133 Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA) Acquired by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 133 shares of the bank’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its holdings in shares of First Citizens BancShares by 4.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 161 shares of the bank’s stock valued at $229,000 after purchasing an additional 7 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in First Citizens BancShares by 4.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 832 shares of the bank’s stock worth $1,181,000 after buying an additional 34 shares during the period. Wells Fargo & Company MN lifted its holdings in First Citizens BancShares by 83.7% during the fourth quarter. Wells Fargo & Company MN now owns 15,212 shares of the bank’s stock worth $21,586,000 after buying an additional 6,931 shares during the period. Corient Private Wealth LLC increased its holdings in shares of First Citizens BancShares by 5.6% in the 4th quarter. Corient Private Wealth LLC now owns 1,675 shares of the bank’s stock valued at $2,377,000 after acquiring an additional 89 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of First Citizens BancShares by 3.5% in the 4th quarter. Franklin Resources Inc. now owns 14,331 shares of the bank’s stock worth $20,335,000 after acquiring an additional 481 shares in the last quarter. 61.18% of the stock is owned by institutional investors.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $1,955.89 on Tuesday. The company has a market cap of $28.42 billion, a price-to-earnings ratio of 10.86 and a beta of 0.82. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s fifty day moving average price is $1,952.91 and its 200 day moving average price is $1,765.02. First Citizens BancShares, Inc. has a 1 year low of $1,274.91 and a 1 year high of $2,174.80.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $50.87 earnings per share for the quarter, beating analysts’ consensus estimates of $44.91 by $5.96. First Citizens BancShares had a return on equity of 14.84% and a net margin of 18.19%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the company earned $52.60 earnings per share. As a group, equities research analysts forecast that First Citizens BancShares, Inc. will post 200.92 earnings per share for the current year.

First Citizens BancShares declared that its board has authorized a stock repurchase plan on Thursday, July 25th that permits the company to buyback $3.50 billion in shares. This buyback authorization permits the bank to repurchase up to 12.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $1.64 per share. The ex-dividend date was Friday, August 30th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.34%. First Citizens BancShares’s payout ratio is currently 3.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Raymond James upgraded shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price target on the stock in a report on Tuesday, July 2nd. Piper Sandler upped 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 report on Friday, July 26th. Jefferies Financial Group assumed coverage on First Citizens BancShares in a research report on Tuesday, July 9th. They issued a “buy” rating and a $2,005.00 price objective for the company. Finally, Keefe, Bruyette & Woods upped their target price on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,927.90.

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.