Harbor Advisors LLC Has $916,000 Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Harbor Advisors LLC grew its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 141.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 512 shares of the bank’s stock after buying an additional 300 shares during the period. Harbor Advisors LLC’s holdings in First Citizens BancShares were worth $916,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FCNCA. Allworth Financial LP boosted its holdings in shares of First Citizens BancShares by 35.3% in the second quarter. Allworth Financial LP now owns 23 shares of the bank’s stock valued at $45,000 after buying an additional 6 shares during the period. Personal CFO Solutions LLC lifted its position in First Citizens BancShares by 4.0% in the 2nd quarter. Personal CFO Solutions LLC now owns 156 shares of the bank’s stock valued at $305,000 after acquiring an additional 6 shares in the last quarter. Alteri Wealth LLC boosted its position in shares of First Citizens BancShares by 4.1% during the third quarter. Alteri Wealth LLC now owns 154 shares of the bank’s stock worth $276,000 after buying an additional 6 shares during the period. Fifth Third Bancorp grew its holdings in shares of First Citizens BancShares by 40.0% during the third quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after buying an additional 6 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in First Citizens BancShares by 0.6% in the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after buying an additional 6 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FCNCA. UBS Group set a $2,325.00 target price on shares of First Citizens BancShares in a report on Wednesday, February 4th. JPMorgan Chase & Co. increased their price target on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Truist Financial raised 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 note on Monday, January 26th. Citigroup reaffirmed a “buy” rating on shares of First Citizens BancShares in a report on Monday, January 26th. Finally, TD Cowen decreased their price target on shares of 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,238.27.

First Citizens BancShares Trading Up 0.3%

FCNCA opened at $2,001.11 on Friday. The stock has a market capitalization of $24.89 billion, a price-to-earnings ratio of 12.08 and a beta of 0.70. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.72. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,232.21. The company has a 50-day simple moving average of $2,107.16 and a 200 day simple moving average of $1,955.65.

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

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, February 27th. First Citizens BancShares’s dividend payout ratio is currently 5.07%.

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.