Peterson Wealth Services Has $2.89 Million Holdings in First Citizens BancShares, Inc. $FCNCA

Peterson Wealth Services increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 387.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,615 shares of the bank’s stock after buying an additional 1,284 shares during the quarter. Peterson Wealth Services’ holdings in First Citizens BancShares were worth $2,889,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of First Citizens BancShares in the 2nd quarter valued at $177,604,000. Orion Porfolio Solutions LLC lifted its holdings in First Citizens BancShares by 2,057.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 47,506 shares of the bank’s stock valued at $92,944,000 after purchasing an additional 45,304 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in First Citizens BancShares by 390.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 48,299 shares of the bank’s stock valued at $84,995,000 after buying an additional 38,446 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in First Citizens BancShares during the third quarter worth about $46,540,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of First Citizens BancShares by 4.0% during the second quarter. JPMorgan Chase & Co. now owns 417,088 shares of the bank’s stock worth $816,022,000 after buying an additional 15,921 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

First Citizens BancShares Price Performance

First Citizens BancShares stock opened at $2,097.35 on Tuesday. The business’s 50-day simple moving average is $2,083.32 and its 200 day simple moving average is $1,948.44. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.81. The stock has a market cap of $26.09 billion, a price-to-earnings ratio of 12.66 and a beta of 0.70. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,237.50.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.12%. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. As a group, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio (DPR) is presently 5.07%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group reissued a “buy” rating and issued a $2,500.00 target price on shares of First Citizens BancShares in a report on Tuesday, January 6th. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. Barclays cut their price target on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a report on Monday, January 26th. Piper Sandler increased their price objective on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Truist Financial raised their price objective on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $2,254.18.

Insiders Place Their Bets

In other First Citizens BancShares news, Director Ellen R. Alemany bought 300 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was bought at an average price of $1,000.00 per share, for a total transaction of $300,000.00. Following the transaction, the director owned 300 shares of the company’s stock, valued at approximately $300,000. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank B. Holding, Jr. purchased 135 shares of First Citizens BancShares stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 2,527 shares in the company, valued at $4,118,176.09. The trade was a 5.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 13.19% of the stock is currently owned by insiders.

About First Citizens BancShares

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.