Waverly Advisors LLC Has $5.56 Million Stock Position in First Citizens BancShares, Inc. $FCNCA

Waverly Advisors LLC raised its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 104.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,949 shares of the bank’s stock after buying an additional 1,508 shares during the quarter. Waverly Advisors LLC’s holdings in First Citizens BancShares were worth $5,558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of First Citizens BancShares by 117,518.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock worth $441,755,000 after buying an additional 205,658 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of First Citizens BancShares by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 125,947 shares of the bank’s stock valued at $237,333,000 after acquiring an additional 1,886 shares in the last quarter. Morgan Stanley lifted its position in shares of First Citizens BancShares by 31.8% during the 4th quarter. Morgan Stanley now owns 123,048 shares of the bank’s stock valued at $264,087,000 after acquiring an additional 29,681 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of First Citizens BancShares by 11.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,317 shares of the bank’s stock valued at $262,514,000 after acquiring an additional 12,303 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in First Citizens BancShares by 20.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 91,876 shares of the bank’s stock worth $174,048,000 after acquiring an additional 15,788 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FCNCA shares. Citigroup restated a “neutral” rating on shares of First Citizens BancShares in a report on Friday. Jefferies Financial Group reiterated a “hold” rating and set a $2,300.00 price objective on shares of First Citizens BancShares in a report on Thursday, July 23rd. TD Cowen cut their price objective on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Barclays increased their price objective on shares of First Citizens BancShares from $2,346.00 to $2,376.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Hold” and an average price target of $2,278.31.

Insider Buying and Selling at First Citizens BancShares

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

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,198.00 on Wednesday. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,237.81. The stock’s 50 day moving average is $2,073.43 and its 200-day moving average is $2,017.06. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $25.47 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.61 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $56.68. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.16 billion. First Citizens BancShares had a net margin of 16.28% and a return on equity of 11.98%. Sell-side analysts forecast that First Citizens BancShares, Inc. will post 177.18 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid 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 of this dividend is Monday, August 31st. First Citizens BancShares’s dividend payout ratio (DPR) is 4.49%.

First Citizens BancShares Company 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.