Focus Partners Advisor Solutions LLC Acquires Shares of 560 First Citizens BancShares, Inc. $FCNCA

Focus Partners Advisor Solutions LLC acquired a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 560 shares of the bank’s stock, valued at approximately $1,096,000.

A number of other hedge funds have also recently bought and sold shares of FCNCA. Cambridge Investment Research Advisors Inc. grew its stake in First Citizens BancShares by 16.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 190 shares of the bank’s stock valued at $352,000 after purchasing an additional 27 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in First Citizens BancShares by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 61,877 shares of the bank’s stock valued at $114,727,000 after purchasing an additional 7,046 shares in the last quarter. KBC Group NV grew its stake in First Citizens BancShares by 113.9% during the 1st quarter. KBC Group NV now owns 10,753 shares of the bank’s stock valued at $19,937,000 after purchasing an additional 5,725 shares in the last quarter. RedJay Asset Management Inc. acquired a new stake in First Citizens BancShares during the 1st quarter valued at approximately $2,781,000. Finally, Summit Trail Advisors LLC grew its stake in First Citizens BancShares by 28.6% during the 1st quarter. Summit Trail Advisors LLC now owns 310 shares of the bank’s stock valued at $574,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,786.10 on Tuesday. The company has a market cap of $23.08 billion, a P/E ratio of 10.56 and a beta of 0.60. The stock has a fifty day moving average price of $1,857.30 and a 200 day moving average price of $1,884.71. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Thursday, October 23rd. The bank reported $44.62 EPS for the quarter, topping analysts’ consensus estimates of $41.51 by $3.11. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a return on equity of 11.06% and a net margin of 15.99%. On average, research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, November 28th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.95. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.97%.

Insider Buying and Selling

In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 409 shares of First Citizens BancShares stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the transaction, the insider owned 1,764 shares of the company’s stock, valued at $2,875,320. The trade was a 30.18% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Hope Holding Bryant purchased 409 shares of First Citizens BancShares stock in a transaction on Thursday, August 7th. The shares were acquired at an average price 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 $2,875,320. This trade represents a 30.18% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 1,428 shares of company stock worth $2,371,476 in the last three months. 13.40% of the stock is owned by insiders.

Analysts Set New Price Targets

FCNCA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Wall Street Zen downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Sunday, September 28th. Keefe, Bruyette & Woods lowered their price target on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a report on Friday. Citigroup lowered their price target on First Citizens BancShares from $2,250.00 to $2,000.00 and set a “neutral” rating for the company in a report on Monday. Finally, Weiss Ratings downgraded First Citizens BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average price target of $2,166.67.

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.