294 Shares in First Citizens BancShares, Inc. $FCNCA Acquired by Optas LLC

Optas LLC bought a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 294 shares of the bank’s stock, valued at approximately $526,000.

A number of other hedge funds have also modified their holdings of FCNCA. Steph & Co. purchased a new stake in First Citizens BancShares in the 3rd quarter valued at about $32,000. SVB Wealth LLC acquired a new stake in First Citizens BancShares in the 1st quarter valued at approximately $35,000. MAI Capital Management raised its position in First Citizens BancShares by 500.0% in the second quarter. MAI Capital Management now owns 18 shares of the bank’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Creekmur Asset Management LLC acquired a new position in First Citizens BancShares during the second quarter worth $39,000. Finally, Allworth Financial LP boosted its position in shares of First Citizens BancShares by 35.3% during the second quarter. Allworth Financial LP now owns 23 shares of the bank’s stock worth $45,000 after buying an additional 6 shares during the period. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Up 0.1%

First Citizens BancShares stock opened at $2,168.13 on Wednesday. The company has a market capitalization of $26.97 billion, a P/E ratio of 12.82 and a beta of 0.71. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. 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 stock has a 50-day simple moving average of $1,882.74 and a 200-day simple moving average of $1,915.06.

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

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a dividend of $2.10 per share. The ex-dividend date was Friday, November 28th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.95. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.97%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FCNCA shares. The Goldman Sachs Group reduced their price target on shares of First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Barclays reduced their price target on First Citizens BancShares from $2,400.00 to $2,190.00 and set an “equal weight” rating on the stock in a research report on Friday, October 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a research note on Monday. 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. Finally, UBS Group lifted their price target on First Citizens BancShares from $2,200.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,149.09.

Insider Buying and Selling at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany acquired 300 shares of the stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the transaction, the director owned 300 shares of the company’s stock, valued at approximately $300,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Frank B. Holding, Jr. bought 135 shares of First Citizens BancShares stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average cost of $1,629.67 per share, with a total value of $220,005.45. Following the completion of the acquisition, the chief executive officer directly owned 2,527 shares of the company’s stock, valued at approximately $4,118,176.09. The trade was a 5.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 13.19% of the company’s stock.

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.