First Citizens BancShares, Inc. $FCNCA Shares Bought by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 464.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,327 shares of the bank’s stock after buying an additional 1,092 shares during the period. Aptus Capital Advisors LLC’s holdings in First Citizens BancShares were worth $2,374,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FCNCA. Norges Bank bought a new stake in shares of First Citizens BancShares during the second quarter valued at about $177,604,000. Orion Porfolio Solutions LLC grew its position in First Citizens BancShares by 2,057.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after buying an additional 45,304 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in First Citizens BancShares by 390.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 48,299 shares of the bank’s stock valued at $84,995,000 after buying an additional 38,446 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in First Citizens BancShares during the 3rd quarter valued at about $46,540,000. Finally, JPMorgan Chase & Co. increased its stake in First Citizens BancShares by 4.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock valued at $778,785,000 after buying an additional 18,190 shares during the period. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Truist Financial raised their price objective on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a research note on Monday, January 26th. TD Cowen dropped their target price on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a report on Monday, January 26th. UBS Group set a $2,325.00 target price on First Citizens BancShares in a research report on Wednesday, February 4th. Finally, Barclays decreased their price target on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, First Citizens BancShares presently has an average rating of “Moderate Buy” and an average target price of $2,238.27.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,892.44 on Monday. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,232.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72. The firm has a 50-day moving average of $2,078.57 and a two-hundred day moving average of $1,958.07. The company has a market capitalization of $22.60 billion, a price-to-earnings ratio of 11.42 and a beta of 0.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share (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 11.18%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.24 billion. As a group, analysts expect that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

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

About First Citizens BancShares

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.