First Citizens BancShares, Inc. $FCNCA Shares Bought by MBL Wealth LLC

MBL Wealth LLC grew its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 617 shares of the bank’s stock after buying an additional 15 shares during the period. MBL Wealth LLC’s holdings in First Citizens BancShares were worth $1,207,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cresset Asset Management LLC raised its holdings in First Citizens BancShares by 3.8% during the first quarter. Cresset Asset Management LLC now owns 163 shares of the bank’s stock worth $302,000 after purchasing an additional 6 shares in the last quarter. M&T Bank Corp raised its holdings in First Citizens BancShares by 1.3% during the first quarter. M&T Bank Corp now owns 632 shares of the bank’s stock worth $1,172,000 after purchasing an additional 8 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in First Citizens BancShares by 3.8% during the first quarter. Venturi Wealth Management LLC now owns 221 shares of the bank’s stock worth $410,000 after purchasing an additional 8 shares in the last quarter. Cooper Financial Group raised its holdings in First Citizens BancShares by 5.5% during the first quarter. Cooper Financial Group now owns 154 shares of the bank’s stock worth $286,000 after purchasing an additional 8 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in First Citizens BancShares by 0.5% during the first quarter. Voya Investment Management LLC now owns 1,668 shares of the bank’s stock worth $3,093,000 after purchasing an additional 8 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Citizens BancShares

In other news, major shareholder Olivia Britton Holding acquired 409 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were purchased at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the acquisition, the insider directly owned 1,764 shares of the company’s stock, valued at $2,875,320. This represents a 30.18% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hope Holding Bryant bought 409 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $1,630.00 per share, with a total value of $666,670.00. Following the transaction, the insider directly owned 1,764 shares in the company, valued at approximately $2,875,320. The trade was a 30.18% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,494 shares of company stock worth $2,485,986. 13.40% of the stock is currently owned by corporate insiders.

First Citizens BancShares Stock Up 1.1%

Shares of NASDAQ FCNCA opened at $1,762.68 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 firm’s 50 day moving average price is $1,911.10 and its 200 day moving average price is $1,886.08. The firm has a market cap of $22.77 billion, a P/E ratio of 10.40 and a beta of 0.60. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.04 and a current ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.21 billion. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $1.95 per share. The ex-dividend date was Friday, August 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is presently 4.60%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Truist Financial dropped their target price on shares of First Citizens BancShares from $2,240.00 to $2,000.00 and set a “hold” rating for the company in a report on Friday. Wall Street Zen cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Sunday, September 28th. UBS Group reaffirmed a “buy” rating and issued a $2,410.00 target price on shares of First Citizens BancShares in a report on Wednesday, July 9th. Finally, Piper Sandler set a $2,150.00 target price on shares of First Citizens BancShares and gave the company a “neutral” rating in a report on Monday, July 28th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,259.17.

First Citizens BancShares Company 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.