Fidelis Capital Partners LLC acquired a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA – Free Report) 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 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.
Check Out Our Latest Stock Analysis on FCNCA
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.
Read More
- Five stocks we like better than First Citizens BancShares
- 3 Warren Buffett Stocks to Buy Now
- The Average 401k Balance by Age Explained
- 3 Stocks to Consider Buying in October
- 3 Uranium Stocks To Gain as Microsoft Goes Nuclear to Power AI
- What is Short Interest? How to Use It
- Biotech Boom Ahead? Key Stocks and ETFs to Watch Now
Want to see what other hedge funds are holding FCNCA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Citizens BancShares, Inc. (NASDAQ:FCNCA – Free Report).
Receive News & Ratings for First Citizens BancShares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Citizens BancShares and related companies with MarketBeat.com's FREE daily email newsletter.