Citizens Financial Group Inc. RI Purchases Shares of 8,949 First Citizens BancShares, Inc. $FCNCA

Citizens Financial Group Inc. RI acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,949 shares of the bank’s stock, valued at approximately $16,011,000. Citizens Financial Group Inc. RI owned 0.07% of First Citizens BancShares as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FCNCA. New York State Teachers Retirement System purchased a new stake in First Citizens BancShares during the third quarter valued at about $1,621,000. Forum Financial Management LP lifted its stake in shares of First Citizens BancShares by 14.8% in the 3rd quarter. Forum Financial Management LP now owns 372 shares of the bank’s stock valued at $666,000 after purchasing an additional 48 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of First Citizens BancShares by 10.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 490 shares of the bank’s stock worth $877,000 after purchasing an additional 45 shares during the period. SG Americas Securities LLC grew its holdings in shares of First Citizens BancShares by 15.2% during the 3rd quarter. SG Americas Securities LLC now owns 212 shares of the bank’s stock worth $379,000 after purchasing an additional 28 shares during the period. Finally, HB Wealth Management LLC increased its position in First Citizens BancShares by 28.1% during the 3rd quarter. HB Wealth Management LLC now owns 939 shares of the bank’s stock worth $1,681,000 after purchasing an additional 206 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Down 0.1%

Shares of First Citizens BancShares stock opened at $2,175.19 on Monday. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The company has a market capitalization of $27.05 billion, a PE ratio of 12.86 and a beta of 0.69. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50-day moving average of $1,992.14 and a 200-day moving average of $1,944.18.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings results on Thursday, October 23rd. The bank reported $44.62 EPS for the quarter, beating analysts’ consensus estimates of $41.51 by $3.11. First Citizens BancShares had a return on equity of 11.09% and a net margin of 15.99%.The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.21 billion. As a group, equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a dividend of $2.10 per share. The ex-dividend date of this dividend was Friday, November 28th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.95. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio is 4.97%.

Insiders Place Their Bets

In related news, Director Ellen R. Alemany purchased 300 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $1,000.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director owned 300 shares in the company, valued at approximately $300,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frank B. Holding, Jr. acquired 135 shares of First Citizens BancShares stock in a transaction on Wednesday, November 26th. The shares were bought at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the completion of the purchase, the chief executive officer directly owned 2,527 shares in the company, valued at $4,118,176.09. The trade was a 5.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 13.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on FCNCA shares. Citigroup lifted their price target on shares of First Citizens BancShares from $2,000.00 to $2,250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 30th. Raymond James Financial upgraded shares of First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. Truist Financial increased their price target on First Citizens BancShares from $2,000.00 to $2,050.00 and gave the company a “hold” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. raised their price objective on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, UBS Group reaffirmed a “buy” rating and issued a $2,500.00 target price on shares of First Citizens BancShares in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,250.55.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.