NewEdge Advisors LLC Acquires 1,092 Shares of First Citizens BancShares, Inc. $FCNCA

NewEdge Advisors LLC grew its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 219.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,590 shares of the bank’s stock after purchasing an additional 1,092 shares during the quarter. NewEdge Advisors LLC’s holdings in First Citizens BancShares were worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its stake in First Citizens BancShares by 2.6% during the first quarter. Venturi Wealth Management LLC now owns 233 shares of the bank’s stock worth $439,000 after purchasing an additional 6 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of First Citizens BancShares by 0.6% during the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock worth $2,051,000 after buying an additional 6 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of First Citizens BancShares by 3.0% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 242 shares of the bank’s stock worth $519,000 after buying an additional 7 shares in the last quarter. Parallel Advisors LLC grew its position in shares of First Citizens BancShares by 8.0% during the 4th quarter. Parallel Advisors LLC now owns 95 shares of the bank’s stock worth $204,000 after buying an additional 7 shares during the period. Finally, Principal Securities Inc. grew its position in shares of First Citizens BancShares by 2.9% during the 4th quarter. Principal Securities Inc. now owns 251 shares of the bank’s stock worth $539,000 after buying an additional 7 shares during the period. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,268.09 on Friday. First Citizens BancShares, Inc. has a 1-year low of $1,623.76 and a 1-year high of $2,296.30. The stock has a market cap of $26.29 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.73 and a beta of 0.62. The stock’s fifty day simple moving average is $2,129.84 and its two-hundred day simple moving average is $2,022.90. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $56.68. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.16 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 16.28%. As a group, analysts forecast that First Citizens BancShares, Inc. will post 190.06 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, August 31st. First Citizens BancShares’s payout ratio is presently 4.49%.

Insider Buying and Selling at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. purchased 528 shares of First Citizens BancShares stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $1,813.37 per share, for a total transaction of $957,459.36. Following the completion of the transaction, the chief executive officer owned 64,100 shares in the company, valued at $116,237,017. This represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have bought 1,250 shares of company stock valued at $2,316,557. 14.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FCNCA shares. Truist Financial boosted their target price on shares of First Citizens BancShares from $2,150.00 to $2,323.00 and gave the company a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings raised shares of First Citizens BancShares from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday. Jefferies Financial Group reiterated a “hold” rating and set a $2,300.00 price objective on shares of First Citizens BancShares in a report on Thursday, July 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $2,300.00 price objective on shares of First Citizens BancShares in a research report on Thursday, July 9th. Finally, Fundamental Research set a $2,350.00 target price on First Citizens BancShares in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Hold” and an average price target of $2,278.31.

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.