First Citizens BancShares, Inc. $FCNCA Shares Acquired by Impact Investors Inc

Impact Investors Inc lifted its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 6.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 698 shares of the bank’s stock after buying an additional 41 shares during the quarter. First Citizens BancShares makes up approximately 1.0% of Impact Investors Inc’s portfolio, making the stock its 27th biggest position. Impact Investors Inc’s holdings in First Citizens BancShares were worth $1,366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FCNCA. SVB Wealth LLC acquired a new position in shares of First Citizens BancShares during the first quarter worth about $35,000. Community Bank N.A. acquired a new position in First Citizens BancShares in the first quarter valued at approximately $44,000. Wayfinding Financial LLC acquired a new position in First Citizens BancShares in the first quarter valued at approximately $64,000. Brooklyn Investment Group boosted its holdings in First Citizens BancShares by 32.1% in the first quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock valued at $67,000 after purchasing an additional 9 shares in the last quarter. Finally, Toth Financial Advisory Corp boosted its holdings in First Citizens BancShares by 263.6% in the first quarter. Toth Financial Advisory Corp now owns 40 shares of the bank’s stock valued at $74,000 after purchasing an additional 29 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCNCA has been the subject of a number of research analyst reports. Truist Financial lowered their price target on First Citizens BancShares from $2,240.00 to $2,000.00 and set a “hold” rating for the company in a report on Friday. Piper Sandler set a $2,150.00 price target on First Citizens BancShares and gave the company a “neutral” rating in a report on Monday, July 28th. Cowen reissued a “buy” rating on shares of First Citizens BancShares in a report on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Finally, Citigroup reissued an “underweight” rating on shares of First Citizens BancShares in a report on Wednesday. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average target price of $2,259.17.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $1,762.68 on Friday. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50 day simple moving average of $1,911.10 and a 200-day simple moving average of $1,886.05. The stock has a market capitalization of $22.78 billion, a PE ratio of 10.40 and a beta of 0.60.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, July 25th. The bank reported $44.78 EPS for the quarter, topping the consensus estimate of $39.08 by $5.70. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%.The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Equities analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, August 29th. First Citizens BancShares’s dividend payout ratio is 4.60%.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, insider Hope Holding Bryant acquired 409 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was purchased at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the transaction, the insider owned 1,764 shares of the company’s stock, valued at $2,875,320. The trade was a 30.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank B. Holding, Jr. acquired 600 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was acquired at an average price of $1,698.75 per share, with a total value of $1,019,250.00. Following the transaction, the chief executive officer directly owned 32,300 shares of the company’s stock, valued at $54,869,625. This represents a 1.89% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 1,494 shares of company stock worth $2,485,986 over the last 90 days. 13.40% of the stock is currently owned by insiders.

First Citizens BancShares Company 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.