First Citizens BancShares, Inc. (NASDAQ:FCNCA) Stock Holdings Boosted by Natixis Advisors LLC

Natixis Advisors LLC raised its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the 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’s holdings in First Citizens BancShares were worth $41,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FCNCA. LRI Investments LLC acquired a new stake in shares of First Citizens BancShares during the 1st quarter valued at $33,000. V Square Quantitative Management LLC acquired a new stake in shares of First Citizens BancShares during the 2nd quarter valued at $35,000. Gradient Investments LLC acquired a new stake in shares of First Citizens BancShares during the 2nd quarter valued at $52,000. Blue Trust Inc. lifted its position in shares of First Citizens BancShares by 120.0% during the 2nd quarter. Blue Trust Inc. now owns 66 shares of the bank’s stock valued at $108,000 after acquiring an additional 36 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of First Citizens BancShares by 129.6% during the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock valued at $114,000 after acquiring an additional 35 shares during the last quarter. 61.18% of the stock is owned by institutional investors.

First Citizens BancShares Trading Up 2.3 %

NASDAQ FCNCA opened at $2,200.46 on Monday. First Citizens BancShares, Inc. has a 1-year low of $1,363.97 and a 1-year 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. The company has a market capitalization of $31.83 billion, a PE ratio of 12.61 and a beta of 0.80. The firm’s fifty day simple moving average is $1,973.28 and its 200-day simple moving average is $1,873.97.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). First Citizens BancShares had a return on equity of 13.63% and a net margin of 17.36%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company posted $55.92 earnings per share. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 189.06 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.95 per share. This represents a $7.80 annualized dividend and a yield of 0.35%. This is an increase 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 presently 4.47%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Piper Sandler increased 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 report on Friday, July 26th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Thursday. Wedbush reduced their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods increased their target price on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. reduced their target price 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. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average target price of $2,025.90.

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.