First Citizens BancShares, Inc. $FCNCA Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 65.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,301 shares of the bank’s stock after acquiring an additional 2,493 shares during the quarter. Quantinno Capital Management LP owned 0.05% of First Citizens BancShares worth $11,876,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. SummitTX Capital L.P. acquired a new stake in First Citizens BancShares during the 1st quarter valued at approximately $1,095,000. OMERS ADMINISTRATION Corp raised its position in shares of First Citizens BancShares by 25.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 457 shares of the bank’s stock valued at $861,000 after purchasing an additional 94 shares in the last quarter. Lombard Odier Asset Management Switzerland SA acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at approximately $303,000. Waverly Advisors LLC boosted its stake in shares of First Citizens BancShares by 104.6% during the 1st quarter. Waverly Advisors LLC now owns 2,949 shares of the bank’s stock valued at $5,558,000 after buying an additional 1,508 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of First Citizens BancShares by 137.9% during the 1st quarter. Renaissance Technologies LLC now owns 15,286 shares of the bank’s stock valued at $28,809,000 after buying an additional 8,860 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $2,218.44 on Tuesday. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,237.81. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $25.71 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.62. The business has a 50 day simple moving average of $2,089.19 and a 200-day simple moving average of $2,017.45.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $57.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $56.68. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.16 billion. First Citizens BancShares had a return on equity of 11.98% and a net margin of 16.28%. As a group, equities research analysts expect that First Citizens BancShares, Inc. will post 187.23 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, August 31st. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.49%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. TD Cowen dropped their price target on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Piper Sandler increased their price objective on shares of First Citizens BancShares from $2,050.00 to $2,100.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Truist Financial raised their price objective on shares of First Citizens BancShares from $2,150.00 to $2,323.00 and gave the stock a “hold” rating in a report on Tuesday, July 28th. Fundamental Research set a $2,350.00 target price on shares of First Citizens BancShares in a research report on Wednesday, July 1st. Finally, Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, First Citizens BancShares has a consensus rating of “Hold” and an average target price of $2,278.31.

Insider Activity

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. purchased 5,940 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $1,726.82 per share, with a total value of $10,257,310.80. Following the acquisition, the chief executive officer owned 38,111 shares of the company’s stock, valued at approximately $65,810,837.02. This represents a 18.46% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have bought 7,190 shares of company stock valued at $12,573,868. Company insiders own 14.63% of the company’s stock.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.