Versor Investments LP Purchases New Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Versor Investments LP purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 697 shares of the bank’s stock, valued at approximately $1,173,000.

Several other institutional investors also recently bought and sold shares of FCNCA. ORG Partners LLC purchased a new stake in shares of First Citizens BancShares during the 1st quarter valued at about $29,000. GAMMA Investing LLC purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at $30,000. Mather Group LLC. acquired a new stake in First Citizens BancShares during the 1st quarter valued at $31,000. LRI Investments LLC purchased a new stake in First Citizens BancShares during the 1st quarter worth $33,000. Finally, V Square Quantitative Management LLC acquired a new position in First Citizens BancShares in the 2nd quarter worth $35,000. 61.18% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Up 1.9 %

Shares of NASDAQ:FCNCA opened at $2,030.70 on Tuesday. The firm has a 50 day simple moving average of $1,893.59 and a 200 day simple moving average of $1,727.72. First Citizens BancShares, Inc. has a 52 week low of $1,274.91 and a 52 week high of $2,174.80. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $29.51 billion, a PE ratio of 11.27 and a beta of 0.83.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $50.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $44.91 by $5.96. First Citizens BancShares had a return on equity of 14.84% and a net margin of 18.19%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the business earned $52.60 EPS. As a group, research analysts expect that First Citizens BancShares, Inc. will post 200.92 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $1.64 dividend. The ex-dividend date is Friday, August 30th. This represents a $6.56 dividend on an annualized basis and a yield of 0.32%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 3.64%.

Analyst Ratings Changes

Several brokerages have recently commented on FCNCA. Piper Sandler increased their price target on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted their target price on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Jefferies Financial Group initiated coverage on First Citizens BancShares in a report on Tuesday, July 9th. They issued a “buy” rating and a $2,005.00 price target for the company. Raymond James upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price objective on the stock in a research note on Tuesday, July 2nd. Finally, Barclays boosted their target price on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,920.82.

About First Citizens BancShares

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.