Live Oak Private Wealth LLC Buys 483 Shares of First Citizens BancShares, Inc. $FCNCA

Live Oak Private Wealth LLC grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 30.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,086 shares of the bank’s stock after acquiring an additional 483 shares during the period. Live Oak Private Wealth LLC’s holdings in First Citizens BancShares were worth $4,081,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SVB Wealth LLC bought a new stake in shares of First Citizens BancShares during the first quarter worth $35,000. Wayfinding Financial LLC bought a new stake in shares of First Citizens BancShares during the first quarter worth $64,000. Brooklyn Investment Group grew its stake in shares of First Citizens BancShares by 32.1% during the first quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock worth $67,000 after buying an additional 9 shares during the last quarter. Toth Financial Advisory Corp grew its stake in shares of First Citizens BancShares by 32.5% during the second quarter. Toth Financial Advisory Corp now owns 53 shares of the bank’s stock worth $104,000 after buying an additional 13 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of First Citizens BancShares by 15.8% during the first quarter. State of Wyoming now owns 66 shares of the bank’s stock worth $122,000 after buying an additional 9 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling at First Citizens BancShares

In other news, insider Hope Holding Bryant purchased 409 shares of the business’s 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 completion of 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Olivia Britton Holding purchased 409 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were purchased at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the transaction, the insider directly owned 1,764 shares of the company’s stock, valued at approximately $2,875,320. The trade was a 30.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 1,428 shares of company stock valued at $2,371,476. 13.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on FCNCA. Truist Financial boosted their target price on shares of First Citizens BancShares from $2,000.00 to $2,050.00 and gave the stock a “hold” rating in a research note on Tuesday. Weiss Ratings cut shares of First Citizens BancShares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Keefe, Bruyette & Woods lowered their target price on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. Citigroup lowered their target price on First Citizens BancShares from $2,250.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Monday. Finally, The Goldman Sachs Group lowered their target price on First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,170.83.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,785.89 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $23.07 billion, a P/E ratio of 10.56 and a beta of 0.60. The firm’s fifty day simple moving average is $1,851.48 and its two-hundred day simple moving average is $1,886.42. 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 results on Thursday, October 23rd. The bank reported $44.62 EPS for the quarter, beating analysts’ consensus estimates of $41.51 by $3.11. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.21 billion. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.06%. As a group, analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.5%. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend is Friday, November 28th. First Citizens BancShares’s payout ratio is currently 4.61%.

About First Citizens BancShares

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.