First Citizens BancShares, Inc. $FCNCA Shares Bought by Founders Financial Alliance LLC

Founders Financial Alliance LLC lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 484.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,532 shares of the bank’s stock after acquiring an additional 1,270 shares during the quarter. Founders Financial Alliance LLC’s holdings in First Citizens BancShares were worth $2,742,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in First Citizens BancShares during the 3rd quarter worth approximately $27,000. UMB Bank n.a. grew its position in shares of First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after buying an additional 8 shares in the last quarter. MAI Capital Management grew its position in shares of First Citizens BancShares by 500.0% during the second quarter. MAI Capital Management now owns 18 shares of the bank’s stock worth $35,000 after buying an additional 15 shares in the last quarter. Steph & Co. bought a new stake in shares of First Citizens BancShares in the third quarter worth $32,000. Finally, Root Financial Partners LLC acquired a new stake in First Citizens BancShares in the third quarter valued at $32,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling at First Citizens BancShares

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. 13.19% of the stock is currently owned by company insiders.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $2,005.87 on Tuesday. First Citizens BancShares, Inc. has a one year low of $1,473.62 and a one year high of $2,232.21. The stock’s fifty day moving average is $2,117.05 and its 200-day moving average is $1,948.69. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $24.95 billion, a price-to-earnings ratio of 12.10 and a beta of 0.70.

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 return on equity of 11.12% and a net margin of 15.21%.The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 5.07%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FCNCA. UBS Group set a $2,325.00 price objective on shares of First Citizens BancShares in a report on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a research note on Monday, December 29th. The Goldman Sachs Group cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective on the stock. in a research note on Tuesday, January 6th. Piper Sandler lifted their target price on First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Finally, JPMorgan Chase & Co. boosted their price target on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,238.27.

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.