AG Campbell Advisory LLC Makes New Investment in First Citizens BancShares, Inc. $FCNCA

Key Points

• AG Campbell Advisory LLC opened a new position in First Citizens BancShares in the fourth quarter, buying 1,010 shares valued at about $2.17 million. The stake makes FCNCA the firm’s 16th largest holding and about 0.7% of its portfolio.
• First Citizens BancShares reported strong quarterly earnings, posting $44.86 EPS versus analyst expectations of $43.31, though revenue came in slightly below estimates at $2.14 billion. The company also continues to maintain solid profitability, with a net margin of 15.62% and return on equity of 11.48%.
• Insider buying and analyst views remain notable: CEO Frank B. Holding Jr. bought 5,940 shares in May, while analysts currently rate the stock a consensus “Hold” with an average price target of $2,215.91. The company also recently paid a quarterly dividend of $2.10 per share.

AG Campbell Advisory LLC acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,010 shares of the bank's stock, valued at approximately $2,168,000. First Citizens BancShares makes up approximately 0.7% of AG Campbell Advisory LLC's investment portfolio, making the stock its 16th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hilton Head Capital Partners LLC purchased a new position in shares of First Citizens BancShares during the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC grew its position in shares of First Citizens BancShares by 150.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank's stock worth $32,000 after buying an additional 9 shares during the period. Fifth Third Bancorp grew its position in shares of First Citizens BancShares by 40.0% in the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank's stock worth $38,000 after buying an additional 6 shares during the period. Reflection Asset Management bought a new position in shares of First Citizens BancShares in the 4th quarter worth about $45,000. Finally, Allworth Financial LP increased its stake in shares of First Citizens BancShares by 21.7% in the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank's stock worth $51,000 after acquiring an additional 5 shares in the last quarter. Institutional investors own 78.01% of the company's stock.

First Citizens BancShares Price Performance

FCNCA opened at $2,071.62 on Friday. The business has a fifty day moving average of $2,004.04 and a 200 day moving average of $2,015.24. First Citizens BancShares, Inc. has a 52-week low of $1,623.76 and a 52-week high of $2,232.21. 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 stock has a market cap of $24.01 billion, a P/E ratio of 11.91, a PEG ratio of 1.60 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping analysts' consensus estimates of $43.31 by $1.55. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. During the same period in the prior year, the firm earned $37.79 EPS. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 175.61 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, May 29th. First Citizens BancShares's payout ratio is currently 4.83%.

Analyst Ratings Changes

Several research analysts have recently issued reports on FCNCA shares. Zacks Research upgraded shares of First Citizens BancShares from a "strong sell" rating to a "hold" rating in a research note on Monday, March 30th. Keefe, Bruyette & Woods reduced their price target on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an "outperform" rating for the company in a research report on Thursday, April 9th. JPMorgan Chase & Co. lowered their price objective on First Citizens BancShares from $2,200.00 to $2,150.00 and set a "neutral" rating on the stock in a research report on Friday, April 24th. Piper Sandler set a $2,050.00 target price on First Citizens BancShares in a research note on Friday, April 24th. Finally, Wall Street Zen downgraded First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $2,215.91.

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 on Tuesday, May 12th. The stock was bought at an average cost of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the completion of the purchase, the chief executive officer owned 38,111 shares in the company, valued at $65,810,837.02. This represents a 18.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 7,190 shares of company stock worth $12,573,868 over the last 90 days. Corporate insiders own 14.63% of the company's stock.

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.

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