AdvisorShares Investments LLC Makes New $415,000 Investment in First Citizens BancShares, Inc. $FCNCA

AdvisorShares Investments LLC purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 232 shares of the bank’s stock, valued at approximately $415,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in First Citizens BancShares during the 3rd quarter valued at about $27,000. UMB Bank n.a. lifted its stake in shares of First Citizens BancShares by 100.0% in the 3rd quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after acquiring an additional 8 shares during the period. MAI Capital Management boosted its holdings in shares of First Citizens BancShares by 500.0% in the second quarter. MAI Capital Management now owns 18 shares of the bank’s stock valued at $35,000 after acquiring an additional 15 shares in the last quarter. Steph & Co. acquired a new position in shares of First Citizens BancShares during the third quarter valued at approximately $32,000. Finally, Root Financial Partners LLC bought a new stake in First Citizens BancShares during the third quarter worth approximately $32,000. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $2,160.99 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,237.50. The company has a market cap of $26.88 billion, a PE ratio of 13.04 and a beta of 0.70. The stock’s 50-day moving average price is $2,101.44 and its two-hundred day moving average price is $1,947.82.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, topping the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.24 billion. On average, analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a $2.10 dividend. The ex-dividend date is Friday, February 27th. 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 presently 5.07%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup reiterated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, January 26th. Barclays lowered their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a report on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Piper Sandler boosted their target price on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,238.27.

Insiders Place Their Bets

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 135 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average price of $1,629.67 per share, with a total value of $220,005.45. Following the completion of the transaction, the chief executive officer directly owned 2,527 shares in the company, valued at approximately $4,118,176.09. This represents a 5.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ellen R. Alemany purchased 300 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $1,000.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director directly owned 300 shares of the company’s stock, valued at $300,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 13.19% of the stock is owned by corporate insiders.

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.