Corient Private Wealth LLC Raises Stake in First Citizens BancShares, Inc. $FCNCA

Corient Private Wealth LLC grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 20.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,462 shares of the bank’s stock after purchasing an additional 247 shares during the quarter. Corient Private Wealth LLC’s holdings in First Citizens BancShares were worth $3,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FCNCA. Northwestern Mutual Wealth Management Co. raised its position in shares of First Citizens BancShares by 117,518.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock valued at $441,755,000 after purchasing an additional 205,658 shares during the period. Norges Bank bought a new position in First Citizens BancShares in the 4th quarter worth $116,565,000. River Road Asset Management LLC boosted its holdings in First Citizens BancShares by 574.0% in the 4th quarter. River Road Asset Management LLC now owns 55,402 shares of the bank’s stock worth $118,903,000 after buying an additional 47,182 shares during the period. Orion Porfolio Solutions LLC increased its stake in First Citizens BancShares by 2,057.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock worth $92,944,000 after buying an additional 45,304 shares in the last quarter. Finally, M&T Bank Corp increased its stake in First Citizens BancShares by 13,512.7% in the 4th quarter. M&T Bank Corp now owns 38,524 shares of the bank’s stock worth $82,679,000 after buying an additional 38,241 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $2,080.89 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $24.12 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.60 and a beta of 0.62. The firm’s fifty day moving average is $2,014.37 and its two-hundred day moving average is $2,020.88. First Citizens BancShares, Inc. has a 52-week low of $1,623.76 and a 52-week high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm earned $37.79 EPS. As a group, analysts anticipate that First Citizens BancShares, Inc. will post 175.61 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, May 29th. First Citizens BancShares’s payout ratio is currently 4.83%.

Insider Activity at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. purchased 528 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $1,813.37 per share, with a total value of $957,459.36. Following the completion of the purchase, the chief executive officer owned 64,100 shares in the company, valued at approximately $116,237,017. This represents a 0.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders bought 7,190 shares of company stock valued at $12,573,868 in the last quarter. 14.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their price objective on First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a research report on Thursday, April 9th. TD Cowen cut their target price on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup reissued a “neutral” rating on shares of First Citizens BancShares in a report on Friday, April 24th. Finally, Weiss Ratings downgraded First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, First Citizens BancShares currently has an average rating of “Hold” and a consensus price target of $2,215.91.

First Citizens BancShares Profile

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.