First Citizens BancShares, Inc. $FCNCA Holdings Lifted by Harbor Advisors LLC

Harbor Advisors LLC lifted its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 141.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 512 shares of the bank’s stock after purchasing an additional 300 shares during the quarter. Harbor Advisors LLC’s holdings in First Citizens BancShares were worth $916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of FCNCA. Allworth Financial LP lifted its stake in shares of First Citizens BancShares by 35.3% in the 2nd quarter. Allworth Financial LP now owns 23 shares of the bank’s stock valued at $45,000 after purchasing an additional 6 shares during the last quarter. Personal CFO Solutions LLC raised its stake in shares of First Citizens BancShares by 4.0% in the 2nd quarter. Personal CFO Solutions LLC now owns 156 shares of the bank’s stock valued at $305,000 after acquiring an additional 6 shares in the last quarter. Alteri Wealth LLC raised its stake in shares of First Citizens BancShares by 4.1% in the 3rd quarter. Alteri Wealth LLC now owns 154 shares of the bank’s stock valued at $276,000 after acquiring an additional 6 shares in the last quarter. Fifth Third Bancorp lifted its holdings in First Citizens BancShares by 40.0% in the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after purchasing an additional 6 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in First Citizens BancShares by 0.6% during the second quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock worth $2,051,000 after purchasing an additional 6 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,001.11 on Friday. The business’s fifty day moving average is $2,107.16 and its two-hundred day moving average is $1,955.65. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $24.89 billion, a P/E ratio of 12.08 and a beta of 0.70. First Citizens BancShares, Inc. has a 52 week low of $1,473.62 and a 52 week high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s payout ratio is 5.07%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FCNCA shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. JPMorgan Chase & Co. upped their price target on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. The Goldman Sachs Group lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target on the stock. in a research report on Tuesday, January 6th. Raymond James Financial raised First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. Finally, Barclays lowered their price objective on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, First Citizens BancShares has an average rating of “Moderate Buy” and an average price target of $2,238.27.

About First Citizens BancShares

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.