Retireful LLC Acquires Shares of 176 First Citizens BancShares, Inc. $FCNCA

Retireful LLC bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 176 shares of the bank’s stock, valued at approximately $344,000.

Several other hedge funds have also modified their holdings of FCNCA. Teacher Retirement System of Texas purchased a new position in First Citizens BancShares in the first quarter worth $2,642,000. Bank of New York Mellon Corp lifted its stake in shares of First Citizens BancShares by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 40,553 shares of the bank’s stock valued at $75,190,000 after purchasing an additional 772 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in First Citizens BancShares by 16.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 190 shares of the bank’s stock worth $352,000 after buying an additional 27 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in First Citizens BancShares during the first quarter worth about $439,000. Finally, DAVENPORT & Co LLC purchased a new position in First Citizens BancShares in the 1st quarter valued at approximately $221,000. 78.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on FCNCA. UBS Group restated a “buy” rating and set a $2,410.00 target price on shares of First Citizens BancShares in a report on Wednesday, July 9th. Cowen restated a “buy” rating on shares of First Citizens BancShares in a report on Monday, July 28th. Wall Street Zen raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Piper Sandler set a $2,150.00 target price on shares of First Citizens BancShares and gave the stock a “neutral” rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,291.17.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $1,835.09 on Thursday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,412.93. The firm has a market capitalization of $23.71 billion, a P/E ratio of 10.83 and a beta of 0.71. The business’s 50-day simple moving average is $1,956.85 and its 200-day simple moving average is $1,885.13.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.08 by $5.70. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. Equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $1.95 per share. The ex-dividend date was Friday, August 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s payout ratio is presently 4.60%.

Insider Buying and Selling

In related news, insider Hope Holding Bryant acquired 409 shares of First Citizens BancShares stock in a transaction on Thursday, August 7th. The shares were bought at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the purchase, the insider directly owned 1,764 shares in the company, valued at $2,875,320. This trade represents a 30.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Olivia Britton Holding bought 409 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was bought at an average cost of $1,630.00 per share, with a total value of $666,670.00. Following the transaction, the insider directly owned 1,764 shares of the company’s stock, valued at approximately $2,875,320. This trade represents a 30.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 1,494 shares of company stock valued at $2,485,986. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Company 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.