HRT Financial LP Has $17.55 Million Stock Position in First Citizens BancShares, Inc. $FCNCA

HRT Financial LP raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 37.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,970 shares of the bank’s stock after acquiring an additional 2,460 shares during the period. HRT Financial LP owned approximately 0.07% of First Citizens BancShares worth $17,549,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in First Citizens BancShares in the 2nd quarter valued at $177,604,000. JPMorgan Chase & Co. grew its holdings in shares of First Citizens BancShares by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 417,088 shares of the bank’s stock valued at $816,022,000 after buying an additional 15,921 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First Citizens BancShares by 13.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 121,583 shares of the bank’s stock worth $225,429,000 after acquiring an additional 14,060 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of First Citizens BancShares in the 2nd quarter worth about $18,743,000. Finally, Bank of America Corp DE lifted its position in First Citizens BancShares by 15.7% in the 2nd quarter. Bank of America Corp DE now owns 65,101 shares of the bank’s stock valued at $127,369,000 after acquiring an additional 8,826 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ellen R. Alemany purchased 300 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was bought at an average price of $1,000.00 per share, for a total transaction of $300,000.00. Following the purchase, the director owned 300 shares of the company’s stock, valued at $300,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank B. Holding, Jr. acquired 135 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was purchased at an average cost of $1,629.67 per share, with a total value of $220,005.45. Following the acquisition, the chief executive officer owned 2,527 shares in the company, valued at $4,118,176.09. The trade was a 5.64% increase in their position. The SEC filing for this purchase provides additional information. 13.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on FCNCA. Truist Financial boosted their price objective on First Citizens BancShares from $2,000.00 to $2,050.00 and gave the stock a “hold” rating in a report on Tuesday, October 28th. Citigroup lowered their price target on First Citizens BancShares from $2,250.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Piper Sandler dropped their price objective on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. The Goldman Sachs Group reduced their target price on shares of 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. Finally, UBS Group raised their price target on shares of First Citizens BancShares from $2,200.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,126.36.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,055.52 on Friday. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,412.93. The company’s 50-day moving average is $1,831.32 and its 200 day moving average is $1,899.96. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $25.57 billion, a P/E ratio of 12.15 and a beta of 0.71.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, beating analysts’ consensus estimates of $41.51 by $3.11. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.09%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.21 billion. On average, equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $2.10 dividend. 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 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio is presently 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.