Savant Capital LLC Takes Position in First Citizens BancShares, Inc. $FCNCA

Savant Capital LLC bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 607 shares of the bank’s stock, valued at approximately $1,187,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FCNCA. Malaga Cove Capital LLC acquired a new position in First Citizens BancShares in the first quarter worth about $714,000. Royal Bank of Canada boosted its holdings in First Citizens BancShares by 14.2% during the first quarter. Royal Bank of Canada now owns 5,465 shares of the bank’s stock valued at $10,134,000 after purchasing an additional 680 shares in the last quarter. Generate Investment Management Ltd bought a new stake in shares of First Citizens BancShares in the 2nd quarter valued at approximately $6,584,000. National Bank of Canada FI raised its holdings in shares of First Citizens BancShares by 59.5% in the 1st quarter. National Bank of Canada FI now owns 2,463 shares of the bank’s stock worth $4,566,000 after buying an additional 919 shares in the last quarter. Finally, Sculptor Capital LP lifted its position in shares of First Citizens BancShares by 16.0% during the 1st quarter. Sculptor Capital LP now owns 41,463 shares of the bank’s stock worth $76,877,000 after buying an additional 5,730 shares during the period. Institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FCNCA shares. Truist Financial upped their price target on First Citizens BancShares from $2,000.00 to $2,050.00 and gave the company a “hold” rating in a research report on Tuesday, October 28th. Piper Sandler reduced their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Barclays dropped their target price on shares of First Citizens BancShares from $2,400.00 to $2,190.00 and set an “equal weight” rating for the company in a research report on Friday, October 24th. Citigroup cut their price target on shares of First Citizens BancShares from $2,250.00 to $2,000.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Finally, UBS Group upped their price objective on shares of First Citizens BancShares from $2,200.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,157.50.

First Citizens BancShares Stock Up 0.8%

Shares of NASDAQ:FCNCA opened at $1,832.48 on Thursday. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The company’s 50-day moving average price is $1,816.43 and its two-hundred day moving average price is $1,892.44. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.76. The firm has a market cap of $23.68 billion, a P/E ratio of 10.84 and a beta of 0.75.

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

First Citizens BancShares Increases Dividend

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

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.