1,050 Shares in First Citizens BancShares, Inc. $FCNCA Acquired by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,050 shares of the bank’s stock, valued at approximately $2,054,000.

A number of other institutional investors have also added to or reduced their stakes in FCNCA. Bank of New York Mellon Corp lifted its position in shares of First Citizens BancShares by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 40,553 shares of the bank’s stock worth $75,190,000 after buying an additional 772 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in First Citizens BancShares by 16.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 190 shares of the bank’s stock worth $352,000 after acquiring an additional 27 shares during the last quarter. Malaga Cove Capital LLC bought a new stake in First Citizens BancShares in the 1st quarter worth approximately $714,000. Stieven Capital Advisors L.P. raised its holdings in shares of First Citizens BancShares by 13.1% during the 1st quarter. Stieven Capital Advisors L.P. now owns 7,507 shares of the bank’s stock worth $13,919,000 after acquiring an additional 870 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of First Citizens BancShares by 14.2% during the 1st quarter. Royal Bank of Canada now owns 5,465 shares of the bank’s stock valued at $10,134,000 after acquiring an additional 680 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of First Citizens BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Barclays reduced their target price on shares of First Citizens BancShares from $2,400.00 to $2,190.00 and set an “equal weight” rating on the stock in a report on Friday, October 24th. UBS Group increased their price target on shares of First Citizens BancShares from $2,200.00 to $2,250.00 and gave the company a “buy” rating in a report on Wednesday. Cowen reiterated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, July 28th. Finally, Truist Financial upped their price objective on First Citizens BancShares from $2,000.00 to $2,050.00 and gave the company a “hold” rating in a research report on Tuesday, October 28th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,157.50.

First Citizens BancShares Stock Up 1.0%

Shares of NASDAQ:FCNCA opened at $1,818.84 on Friday. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The business has a 50 day simple moving average of $1,826.29 and a two-hundred day simple moving average of $1,890.49. The firm has a market capitalization of $23.50 billion, a PE ratio of 10.75 and a beta of 0.75. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, topping the consensus estimate of $41.51 by $3.11. First Citizens BancShares had a return on equity of 11.06% and a net margin of 15.99%.The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.21 billion. On average, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 0.5%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, November 28th. First Citizens BancShares’s dividend payout ratio is 4.97%.

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.