Savant Capital LLC Makes New Investment in First Citizens BancShares, Inc. $FCNCA

Savant Capital LLC bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 607 shares of the bank’s stock, valued at approximately $1,187,000.

Other institutional investors also recently modified their holdings of the company. Edgestream Partners L.P. acquired a new position in First Citizens BancShares in the first quarter valued at approximately $858,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of First Citizens BancShares by 6.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,755 shares of the bank’s stock valued at $5,108,000 after acquiring an additional 169 shares during the last quarter. Mosaic Family Wealth Partners LLC acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at $239,000. Kestra Private Wealth Services LLC lifted its stake in shares of First Citizens BancShares by 4.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 429 shares of the bank’s stock valued at $795,000 after purchasing an additional 20 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of First Citizens BancShares by 11.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,741 shares of the bank’s stock worth $14,353,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Sunday, September 28th. The Goldman Sachs Group lowered their price target on First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Raymond James Financial set a $2,100.00 price target on shares of First Citizens BancShares in a research report on Tuesday, October 7th. Truist Financial boosted their price objective on shares of First Citizens BancShares from $2,000.00 to $2,050.00 and gave the company a “hold” rating in a report on Tuesday, October 28th. Finally, Piper Sandler lowered their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus target price of $2,157.50.

First Citizens BancShares Trading Up 0.8%

Shares of NASDAQ:FCNCA opened at $1,832.48 on Thursday. The firm has a market cap of $23.68 billion, a price-to-earnings ratio of 10.84 and a beta of 0.75. 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 fifty day simple moving average is $1,816.43 and its 200 day simple moving average 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.

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. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.06%. 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. Investors of record on Friday, November 28th will be issued a dividend of $2.10 per share. The ex-dividend date is Friday, November 28th. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.95. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.5%. First Citizens BancShares’s dividend payout ratio is 4.97%.

First Citizens BancShares 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.