Harbor Capital Advisors Inc. Boosts Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Harbor Capital Advisors Inc. increased its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,676 shares of the bank’s stock after purchasing an additional 91 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in First Citizens BancShares were worth $9,880,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new position in First Citizens BancShares during the third quarter valued at approximately $39,000. GAMMA Investing LLC raised its position in First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after purchasing an additional 35 shares during the period. National Bank of Canada FI raised its position in First Citizens BancShares by 17.7% in the 2nd quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock worth $124,000 after purchasing an additional 11 shares during the period. Quarry LP bought a new stake in First Citizens BancShares in the second quarter worth $126,000. Finally, Private Trust Co. NA boosted its position in First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after buying an additional 84 shares during the period. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FCNCA has been the topic of several recent research reports. Barclays raised their price target on First Citizens BancShares from $2,250.00 to $2,456.00 and gave the stock an “equal weight” rating in a research report on Monday. Truist Financial began coverage on shares of First Citizens BancShares in a report on Tuesday. They issued a “hold” rating and a $2,303.00 target price on the stock. UBS Group initiated coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They set a “buy” rating and a $2,700.00 price target for the company. The Goldman Sachs Group raised their price target on shares of First Citizens BancShares from $2,025.00 to $2,625.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2,290.75.

First Citizens BancShares Stock Down 1.5 %

Shares of FCNCA traded down $32.37 on Friday, reaching $2,061.63. The stock had a trading volume of 24,373 shares, compared to its average volume of 58,007. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 12-month low of $1,363.97 and a 12-month high of $2,388.78. The firm has a market capitalization of $28.84 billion, a price-to-earnings ratio of 11.81 and a beta of 0.86. The company has a 50-day simple moving average of $2,159.07 and a 200-day simple moving average of $1,996.68.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 EPS for the quarter, missing the consensus estimate of $47.40 by ($1.53). The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same period in the prior year, the business posted $55.92 EPS. Sell-side analysts predict that First Citizens BancShares, Inc. will post 188.21 EPS for the current year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $1.95 dividend. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, November 29th. First Citizens BancShares’s payout ratio is currently 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.