Angel Oak Capital Advisors LLC Invests $824,000 in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Angel Oak Capital Advisors LLC purchased a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 390 shares of the bank’s stock, valued at approximately $824,000. First Citizens BancShares makes up 1.1% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 18th largest holding.

Several other institutional investors also recently bought and sold shares of FCNCA. Financial Life Planners bought a new stake in shares of First Citizens BancShares in the 4th quarter worth $33,000. Hemington Wealth Management boosted its position in shares of First Citizens BancShares by 60.0% during the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after buying an additional 6 shares during the last quarter. Mather Group LLC. increased its holdings in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock worth $38,000 after buying an additional 5 shares in the last quarter. Asset Planning Inc purchased a new position in First Citizens BancShares in the 4th quarter worth about $38,000. Finally, Brooklyn Investment Group bought a new position in First Citizens BancShares during the 3rd quarter valued at about $39,000. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Up 1.6 %

Shares of FCNCA stock opened at $2,141.49 on Tuesday. The company has a market capitalization of $29.96 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.00 and a beta of 0.85. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. The company’s fifty day moving average price is $2,143.58 and its 200-day moving average price is $2,066.03. First Citizens BancShares, Inc. has a one year low of $1,475.85 and a one year high of $2,412.93.

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

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 0.36%. The ex-dividend date is Friday, February 28th. First Citizens BancShares’s payout ratio is currently 4.12%.

Wall Street Analyst Weigh In

FCNCA has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Wedbush cut their target price on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Barclays raised their price target on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. StockNews.com upgraded First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price on the stock. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently 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.