First Citizens BancShares, Inc. $FCNCA Shares Bought by MBL Wealth LLC

MBL Wealth LLC boosted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 617 shares of the bank’s stock after purchasing an additional 15 shares during the period. MBL Wealth LLC’s holdings in First Citizens BancShares were worth $1,207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FCNCA. Vest Financial LLC acquired a new stake in First Citizens BancShares during the first quarter valued at approximately $1,557,000. Reinhart Partners LLC. lifted its stake in First Citizens BancShares by 14.6% during the first quarter. Reinhart Partners LLC. now owns 66,459 shares of the bank’s stock valued at $123,223,000 after purchasing an additional 8,478 shares during the last quarter. Princeton Global Asset Management LLC lifted its stake in First Citizens BancShares by 5.2% during the first quarter. Princeton Global Asset Management LLC now owns 650 shares of the bank’s stock valued at $1,205,000 after purchasing an additional 32 shares during the last quarter. Park Avenue Securities LLC lifted its stake in First Citizens BancShares by 11.5% during the first quarter. Park Avenue Securities LLC now owns 551 shares of the bank’s stock valued at $1,022,000 after purchasing an additional 57 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its stake in First Citizens BancShares by 263.6% during the first quarter. Toth Financial Advisory Corp now owns 40 shares of the bank’s stock valued at $74,000 after purchasing an additional 29 shares during the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 600 shares of First Citizens BancShares stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the acquisition, the chief executive officer owned 32,300 shares of the company’s stock, valued at approximately $54,869,625. The trade was a 1.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hope Holding Bryant acquired 409 shares of First Citizens BancShares stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $1,630.00 per share, with a total value of $666,670.00. Following the completion of the acquisition, the insider directly owned 1,764 shares in the company, valued at $2,875,320. This trade represents a 30.18% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 1,494 shares of company stock valued at $2,485,986 in the last ninety days. Company insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the subject of several recent research reports. UBS Group reissued a “buy” rating and set a $2,410.00 target price on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Cowen restated a “buy” rating on shares of First Citizens BancShares in a research report on Monday, July 28th. Wall Street Zen downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Sunday, September 28th. Truist Financial reduced their price target on shares of First Citizens BancShares from $2,240.00 to $2,000.00 and set a “hold” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average target price of $2,259.17.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,762.68 on Friday. The company’s fifty day moving average is $1,911.10 and its 200-day moving average is $1,886.08. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The firm has a market cap of $22.77 billion, a price-to-earnings ratio of 10.40 and a beta of 0.60. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.76.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Friday, July 25th. The bank reported $44.78 EPS for the quarter, topping the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.21 billion. Equities analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $1.95 dividend. The ex-dividend date of this dividend 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%.

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.