Natixis Advisors LLC Grows Position in First Citizens BancShares, Inc. $FCNCA

Natixis Advisors LLC raised its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 5.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,524 shares of the bank’s stock after purchasing an additional 1,209 shares during the quarter. Natixis Advisors LLC’s holdings in First Citizens BancShares were worth $45,667,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FCNCA. Citigroup Inc. raised its position in shares of First Citizens BancShares by 23.4% in the 3rd quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock worth $30,305,000 after buying an additional 3,215 shares during the period. AlphaQuest LLC grew its position in First Citizens BancShares by 577.7% during the third quarter. AlphaQuest LLC now owns 759 shares of the bank’s stock valued at $1,358,000 after acquiring an additional 647 shares during the period. Founders Financial Alliance LLC increased its stake in First Citizens BancShares by 484.7% during the third quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank’s stock worth $2,742,000 after acquiring an additional 1,270 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in First Citizens BancShares during the third quarter worth about $415,000. Finally, Thrivent Financial for Lutherans raised its holdings in shares of First Citizens BancShares by 8.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 43,787 shares of the bank’s stock worth $78,341,000 after purchasing an additional 3,587 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $1,907.53 on Tuesday. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,232.21. The business has a 50-day moving average of $2,073.44 and a 200-day moving average of $1,957.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $22.78 billion, a price-to-earnings ratio of 11.51 and a beta of 0.68.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%. On average, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a $2.10 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is 5.07%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen reduced their price objective on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Truist Financial increased their target price on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Raymond James Financial upgraded shares of First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. UBS Group set a $2,325.00 price target on shares of First Citizens BancShares in a research report on Wednesday, February 4th. Finally, Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and a consensus price target of $2,238.27.

First Citizens BancShares Company 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.