First Citizens BancShares, Inc. $FCNCA Shares Bought by Impact Investors Inc

Impact Investors Inc grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 698 shares of the bank’s stock after purchasing an additional 41 shares during the quarter. First Citizens BancShares makes up about 1.0% of Impact Investors Inc’s portfolio, making the stock its 27th biggest holding. Impact Investors Inc’s holdings in First Citizens BancShares were worth $1,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. QRG Capital Management Inc. acquired a new stake in First Citizens BancShares during the 2nd quarter worth $215,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of First Citizens BancShares by 6.1% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,216 shares of the bank’s stock worth $4,336,000 after acquiring an additional 127 shares during the period. Invesco LLC raised its holdings in shares of First Citizens BancShares by 36.1% during the 2nd quarter. Invesco LLC now owns 147 shares of the bank’s stock worth $288,000 after acquiring an additional 39 shares during the period. Generate Investment Management Ltd purchased a new position in shares of First Citizens BancShares during the 2nd quarter worth $6,584,000. Finally, City Holding Co. purchased a new position in shares of First Citizens BancShares during the 2nd quarter worth $646,000. Institutional investors and hedge funds own 78.01% of the company’s stock.

Insiders Place Their Bets

In other First Citizens BancShares news, insider Hope Holding Bryant purchased 409 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were bought at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the purchase, the insider directly owned 1,764 shares of the company’s stock, valued at approximately $2,875,320. This trade represents a 30.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Olivia Britton Holding 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, for a total transaction of $666,670.00. Following the completion of the purchase, the insider directly owned 1,764 shares of the company’s stock, valued at approximately $2,875,320. This trade represents a 30.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,494 shares of company stock worth $2,485,986 over the last three months. Company insiders own 13.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Wall Street Zen lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Sunday, September 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a report on Saturday, September 27th. Citigroup reiterated an “underweight” rating on shares of First Citizens BancShares in a report on Wednesday. Finally, UBS Group reiterated a “buy” rating and set a $2,410.00 price target on shares of First Citizens BancShares in a report on Wednesday, July 9th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,259.17.

First Citizens BancShares Stock Up 1.1%

Shares of FCNCA opened at $1,762.68 on Friday. 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 firm has a market cap of $22.78 billion, a P/E ratio of 10.40 and a beta of 0.60. The company’s 50-day moving average price is $1,911.10 and its 200 day moving average price is $1,886.05. 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 Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.08 by $5.70. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. On average, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $1.95 per share. The ex-dividend date was Friday, August 29th. This represents a $7.80 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio is 4.60%.

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.