First Citizens BancShares, Inc. $FCNCA Stock Position Raised by Live Oak Private Wealth LLC

Live Oak Private Wealth LLC increased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 58.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,297 shares of the bank’s stock after acquiring an additional 1,211 shares during the quarter. Live Oak Private Wealth LLC’s holdings in First Citizens BancShares were worth $5,899,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FCNCA. Royal Bank of Canada raised its holdings in shares of First Citizens BancShares by 14.2% during the first quarter. Royal Bank of Canada now owns 5,465 shares of the bank’s stock valued at $10,134,000 after acquiring an additional 680 shares during the period. Generate Investment Management Ltd purchased a new position in First Citizens BancShares during the 2nd quarter worth approximately $6,584,000. Strs Ohio purchased a new position in First Citizens BancShares during the 1st quarter worth approximately $1,074,000. Alberta Investment Management Corp raised its stake in First Citizens BancShares by 0.7% during the 2nd quarter. Alberta Investment Management Corp now owns 28,376 shares of the bank’s stock valued at $55,517,000 after purchasing an additional 200 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of First Citizens BancShares by 11.9% in the second quarter. Thrivent Financial for Lutherans now owns 40,200 shares of the bank’s stock valued at $78,650,000 after purchasing an additional 4,264 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Down 0.1%

FCNCA opened at $2,180.48 on Monday. The company has a market capitalization of $27.13 billion, a PE ratio of 12.89 and a beta of 0.71. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick 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 business has a 50-day moving average of $1,912.90 and a 200-day moving average of $1,922.27.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $44.62 EPS for the quarter, topping analysts’ consensus estimates of $41.51 by $3.11. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate 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 forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen cut First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Sunday, September 28th. Weiss Ratings restated a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday, December 22nd. Raymond James Financial raised First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $2,100.00 to $2,200.00 in a research note on Thursday, November 20th. UBS Group increased their price target on shares of First Citizens BancShares from $2,200.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, The Goldman Sachs Group decreased their price target on shares of First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating for the company in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,149.09.

Insiders Place Their Bets

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

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.