First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC grew its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,366 shares of the bank’s stock after purchasing an additional 899 shares during the quarter. Natixis Advisors LLC owned 0.15% of First Citizens BancShares worth $41,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wedbush Securities Inc. lifted its stake in shares of First Citizens BancShares by 0.5% in the second quarter. Wedbush Securities Inc. now owns 1,199 shares of the bank’s stock worth $2,019,000 after acquiring an additional 6 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of First Citizens BancShares by 4.9% in the third quarter. Metis Global Partners LLC now owns 129 shares of the bank’s stock worth $237,000 after acquiring an additional 6 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of First Citizens BancShares by 3.9% in the second quarter. HB Wealth Management LLC now owns 187 shares of the bank’s stock worth $315,000 after acquiring an additional 7 shares in the last quarter. Tandem Capital Management Corp ADV lifted its stake in shares of First Citizens BancShares by 1.8% in the third quarter. Tandem Capital Management Corp ADV now owns 459 shares of the bank’s stock worth $845,000 after acquiring an additional 8 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in shares of First Citizens BancShares by 1.6% in the second quarter. Raymond James Trust N.A. now owns 625 shares of the bank’s stock worth $1,052,000 after acquiring an additional 10 shares in the last quarter. Institutional investors and hedge funds own 61.18% of the company’s stock.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several recent analyst reports. Barclays boosted their price target on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Piper Sandler upped their price objective on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. cut their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Keefe, Bruyette & Woods upped their price objective on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,025.90.

First Citizens BancShares Stock Up 2.3 %

NASDAQ:FCNCA opened at $2,200.46 on Monday. The firm has a market capitalization of $31.83 billion, a PE ratio of 12.61 and a beta of 0.80. The stock has a 50 day moving average of $1,973.28 and a 200-day moving average of $1,873.97. First Citizens BancShares, Inc. has a 52 week low of $1,363.97 and a 52 week high of $2,275.90. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company posted $55.92 earnings per share. Analysts predict that First Citizens BancShares, Inc. will post 189.06 EPS for the current year.

First Citizens BancShares declared that its Board of Directors has initiated a share repurchase program on Thursday, July 25th that allows the company to repurchase $3.50 billion in shares. This repurchase authorization allows the bank to repurchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

First Citizens BancShares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a yield of 0.35%. This is a positive change from First Citizens BancShares’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares’s dividend payout ratio is 4.47%.

First Citizens BancShares 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.