Focus Partners Wealth Has $505,000 Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Focus Partners Wealth boosted its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 47.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 229 shares of the bank’s stock after buying an additional 74 shares during the period. Focus Partners Wealth’s holdings in First Citizens BancShares were worth $505,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Financial Life Planners bought a new stake in shares of First Citizens BancShares during the fourth quarter valued at approximately $33,000. Hemington Wealth Management grew its position in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares during the period. Duncker Streett & Co. Inc. bought a new stake in First Citizens BancShares in the fourth quarter valued at $36,000. Mather Group LLC. grew its position in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares during the period. Finally, Asset Planning Inc bought a new stake in First Citizens BancShares in the fourth quarter valued at $38,000. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Trading Down 1.0%

NASDAQ:FCNCA opened at $1,918.20 on Wednesday. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The business’s 50-day moving average price is $1,792.01 and its two-hundred day moving average price is $2,008.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $25.49 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.94 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, April 24th. The bank reported $37.79 earnings per share for the quarter, beating the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.22 billion. On average, equities analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.41%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.47%.

Analyst Ratings Changes

A number of research firms have commented on FCNCA. TD Cowen began coverage on First Citizens BancShares in a research note on Thursday, May 15th. They issued a “buy” rating and a $2,400.00 price objective on the stock. Truist Financial boosted their price objective on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Barclays reduced their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Keefe, Bruyette & Woods boosted their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Finally, Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,336.58.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. acquired 350 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was acquired at an average cost of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,758 shares in the company, valued at $4,440,380. This represents a 14.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Craig L. Nix acquired 17 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the acquisition, the chief financial officer now owns 1,141 shares of the company’s stock, valued at $2,146,369.33. This represents a 1.51% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 13.40% of the company’s stock.

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.