Live Oak Private Wealth LLC Raises Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Live Oak Private Wealth LLC raised its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 81.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 304 shares of the bank’s stock after purchasing an additional 136 shares during the quarter. Live Oak Private Wealth LLC’s holdings in First Citizens BancShares were worth $642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Raymond James & Associates grew its holdings in First Citizens BancShares by 5.1% during the 3rd quarter. Raymond James & Associates now owns 16,826 shares of the bank’s stock worth $30,976,000 after acquiring an additional 811 shares in the last quarter. Balentine LLC acquired a new position in First Citizens BancShares in the third quarter worth about $3,564,000. Hiddenite Capital Partners LP increased its holdings 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 buying an additional 400 shares during the last quarter. Retireful LLC bought a new stake in First Citizens BancShares in the third quarter valued at about $801,000. Finally, Oliver Luxxe Assets LLC raised its stake in First Citizens BancShares by 22.6% during the third quarter. Oliver Luxxe Assets LLC now owns 2,916 shares of the bank’s stock valued at $5,368,000 after buying an additional 537 shares in the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Up 1.7 %

Shares of FCNCA opened at $2,210.47 on Friday. 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, Inc. has a 1-year low of $1,438.08 and a 1-year high of $2,412.93. The stock has a market capitalization of $30.92 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.00 and a beta of 0.85. The business’s 50-day moving average price is $2,152.11 and its 200 day moving average price is $2,058.74.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Analysts expect that First Citizens BancShares, Inc. will post 165.15 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.35%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FCNCA. The Goldman Sachs Group boosted their price target on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. 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, January 7th. UBS Group assumed coverage on shares of First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target for the company. Truist Financial increased their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average target price of $2,323.50.

About First Citizens BancShares

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.