First Citizens BancShares, Inc. $FCNCA Shares Acquired by Delta Investment Management LLC

Delta Investment Management LLC raised its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 23.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141 shares of the bank’s stock after acquiring an additional 27 shares during the period. Delta Investment Management LLC’s holdings in First Citizens BancShares were worth $262,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its position in shares of First Citizens BancShares by 54.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 17 shares of the bank’s stock valued at $32,000 after acquiring an additional 6 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of First Citizens BancShares in the first quarter valued at approximately $35,000. Community Bank N.A. purchased a new position in shares of First Citizens BancShares in the first quarter valued at approximately $44,000. Wayfinding Financial LLC purchased a new position in shares of First Citizens BancShares in the first quarter valued at approximately $64,000. Finally, Brooklyn Investment Group boosted its stake in shares of First Citizens BancShares by 32.1% in the first quarter. Brooklyn Investment Group now owns 37 shares of the bank’s stock valued at $67,000 after purchasing an additional 9 shares during the period. 78.01% of the stock is currently owned by institutional investors and hedge funds.

First Citizens BancShares Stock Up 1.7%

Shares of NASDAQ:FCNCA opened at $2,032.56 on Thursday. The firm has a 50 day simple moving average of $1,992.79 and a 200-day simple moving average of $1,901.18. The company has a market capitalization of $26.26 billion, a PE ratio of 11.99 and a beta of 0.64. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,412.93. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.76.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, July 25th. The bank reported $44.78 EPS for the quarter, beating analysts’ consensus estimates of $39.08 by $5.70. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.21 billion. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.32%. On average, equities analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

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

Analyst Ratings Changes

FCNCA has been the subject of several recent research reports. TD Cowen initiated coverage on shares of First Citizens BancShares in a research note on Thursday, May 15th. They issued a “buy” rating and a $2,400.00 price objective for the company. UBS Group reissued a “buy” rating and issued a $2,410.00 price objective on shares of First Citizens BancShares in a research note on Wednesday, July 9th. Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a research note on Wednesday, May 21st. They issued a “hold” rating and a $2,050.00 price objective for the company. Piper Sandler set a $2,150.00 price objective on shares of First Citizens BancShares and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,291.17.

Insider Activity

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 600 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $1,698.75 per share, with a total value of $1,019,250.00. Following the acquisition, the chief executive officer directly owned 32,300 shares of the company’s stock, valued at $54,869,625. The trade was a 1.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Olivia Britton Holding bought 409 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was acquired at an average cost of $1,630.00 per share, for a total transaction of $666,670.00. Following the completion of the acquisition, the insider directly owned 1,764 shares in the company, 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. Insiders have acquired 1,494 shares of company stock valued at $2,485,986 in the last ninety days. 13.40% of the stock is currently owned by company insiders.

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.