EP Wealth Advisors LLC Purchases New Shares in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

EP Wealth Advisors LLC acquired a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCAFree Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,210 shares of the bank’s stock, valued at approximately $2,227,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in shares of First Citizens BancShares by 5.1% in the 3rd quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock worth $30,976,000 after buying an additional 811 shares during the last quarter. Balentine LLC bought a new stake in First Citizens BancShares in the third quarter worth about $3,564,000. Cetera Investment Advisers raised its position in First Citizens BancShares by 301.3% in the first quarter. Cetera Investment Advisers now owns 1,244 shares of the bank’s stock worth $2,034,000 after acquiring an additional 934 shares during the period. Hiddenite Capital Partners LP boosted its stake in First Citizens BancShares by 14.1% in the third quarter. Hiddenite Capital Partners LP now owns 3,230 shares of the bank’s stock valued at $5,946,000 after acquiring an additional 400 shares during the last quarter. Finally, Oliver Luxxe Assets LLC grew its position in shares of First Citizens BancShares by 22.6% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock valued at $5,368,000 after acquiring an additional 537 shares during the period. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $2,196.60 on Monday. The firm has a market capitalization of $30.73 billion, a price-to-earnings ratio of 12.58 and a beta of 0.83. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a fifty day moving average of $2,088.79 and a 200 day moving average of $1,929.12. First Citizens BancShares, Inc. has a 52-week low of $1,363.97 and a 52-week high of $2,388.78.

First Citizens BancShares (NASDAQ:FCNCAGet Free Report) last issued 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 business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.36 billion. First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. During the same period in the previous year, the firm posted $55.92 EPS. On average, research analysts expect that First Citizens BancShares, Inc. will post 187.88 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.95 per share. This is an increase 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 0.36%. The ex-dividend date of this dividend is Friday, November 29th. First Citizens BancShares’s payout ratio is currently 4.47%.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of research reports. Keefe, Bruyette & Woods cut shares of First Citizens BancShares from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $2,100.00 to $2,500.00 in a report on Wednesday, December 4th. Wedbush dropped their price target on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group boosted their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2,113.40.

View Our Latest Analysis on First Citizens BancShares

First Citizens BancShares Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for First Citizens BancShares (NASDAQ:FCNCA)

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