HRT Financial LP Acquires 2,460 Shares of First Citizens BancShares, Inc. $FCNCA

HRT Financial LP grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 37.8% in the second quarter, HoldingsChannel.com reports. The fund owned 8,970 shares of the bank’s stock after purchasing an additional 2,460 shares during the period. HRT Financial LP’s holdings in First Citizens BancShares were worth $17,549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FCNCA. Holocene Advisors LP bought a new stake in First Citizens BancShares during the second quarter valued at approximately $1,223,000. Hudson Bay Capital Management LP bought a new stake in shares of First Citizens BancShares during the 2nd quarter worth $644,000. ICONIQ Capital LLC purchased a new position in First Citizens BancShares in the second quarter worth $382,000. EP Wealth Advisors LLC increased its stake in First Citizens BancShares by 2.7% in the second quarter. EP Wealth Advisors LLC now owns 1,274 shares of the bank’s stock valued at $2,493,000 after acquiring an additional 34 shares during the last quarter. Finally, Engineers Gate Manager LP raised its position in First Citizens BancShares by 129.6% during the second quarter. Engineers Gate Manager LP now owns 2,429 shares of the bank’s stock valued at $4,752,000 after purchasing an additional 1,371 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the subject of a number of research reports. UBS Group upped their price objective on First Citizens BancShares from $2,200.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Truist Financial upped their target price on First Citizens BancShares from $2,000.00 to $2,050.00 and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods reduced their price target on shares of First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday. Finally, The Goldman Sachs Group reduced their target price on shares of First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating on the stock in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, First Citizens BancShares currently has an average rating of “Moderate Buy” and an average target price of $2,126.36.

First Citizens BancShares Stock Down 1.3%

Shares of First Citizens BancShares stock opened at $2,055.52 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,412.93. The company’s 50 day moving average price is $1,831.32 and its 200-day moving average price is $1,899.96. The stock has a market capitalization of $25.57 billion, a price-to-earnings ratio of 12.15 and a beta of 0.71.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, beating the consensus estimate of $41.51 by $3.11. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.09%. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Equities research analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $2.10 per share. The ex-dividend date is Friday, November 28th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.95. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.97%.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany purchased 300 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average price of $1,000.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director directly owned 300 shares of the company’s stock, valued at $300,000. The trade was a ? increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Frank B. Holding, Jr. purchased 135 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average price of $1,629.67 per share, for a total transaction of $220,005.45. Following the acquisition, the chief executive officer owned 2,527 shares of the company’s stock, valued at $4,118,176.09. This represents a 5.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 13.40% of the company’s stock.

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.