EJF Capital LLC Has $4.40 Million Holdings in First Citizens BancShares, Inc. $FCNCA

Key Points

• EJF Capital LLC increased its holdings in First Citizens BancShares by 22.6% in the first quarter, making it the company's 6th largest position in their investment portfolio, valued at approximately $4,396,000.
• Analysts have set a consensus price target of $2,291.17, with most giving it a "Moderate Buy" rating, while TD Cowen has a price target set as high as $2,400.00.
• The company recently announced a quarterly dividend of $1.95 per share, reflecting an annualized yield of 0.4% and a low dividend payout ratio of 4.60%.

EJF Capital LLC increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) by 22.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,371 shares of the bank's stock after purchasing an additional 437 shares during the quarter. First Citizens BancShares makes up about 2.8% of EJF Capital LLC's portfolio, making the stock its 6th largest holding. EJF Capital LLC's holdings in First Citizens BancShares were worth $4,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in FCNCA. Teacher Retirement System of Texas acquired a new stake in shares of First Citizens BancShares during the first quarter valued at about $2,642,000. Bank of New York Mellon Corp boosted its stake in shares of First Citizens BancShares by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 40,553 shares of the bank's stock valued at $75,190,000 after purchasing an additional 772 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of First Citizens BancShares by 16.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 190 shares of the bank's stock valued at $352,000 after purchasing an additional 27 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of First Citizens BancShares during the first quarter valued at about $439,000. Finally, DAVENPORT & Co LLC acquired a new stake in shares of First Citizens BancShares during the first quarter valued at about $221,000. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Frank B. Holding, Jr. acquired 600 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was purchased at an average price of $1,698.75 per share, for a total transaction of $1,019,250.00. Following the completion of the acquisition, the chief executive officer directly owned 32,300 shares in the company, valued at $54,869,625. The trade was a 1.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Olivia Britton Holding acquired 409 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were purchased at an average price of $1,630.00 per share, with a total value of $666,670.00. Following the acquisition, the insider owned 1,764 shares of the company's stock, valued at approximately $2,875,320. This represents a 30.18% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 1,494 shares of company stock worth $2,485,986 over the last quarter. 13.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FCNCA shares. Piper Sandler set a $2,150.00 price objective on First Citizens BancShares and gave the stock a "neutral" rating in a research note on Monday, July 28th. UBS Group reaffirmed 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. Cowen reaffirmed a "buy" rating on shares of First Citizens BancShares in a research note on Monday, July 28th. TD Cowen started coverage on First Citizens BancShares in a research note on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on 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 assigned a Hold rating to the stock. Based on data from MarketBeat, First Citizens BancShares has a consensus rating of "Moderate Buy" and a consensus price target of $2,291.17.

First Citizens BancShares Trading Up 1.1%

FCNCA stock traded up $21.50 during mid-day trading on Monday, reaching $1,946.76. The company's stock had a trading volume of 116,020 shares, compared to its average volume of 94,593. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 11.49 and a beta of 0.71. The business's 50 day moving average price is $2,003.55 and its 200 day moving average price is $1,890.10. 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, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The bank reported $44.78 EPS for the quarter, beating the consensus estimate of $39.08 by $5.70. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.21 billion. First Citizens BancShares had a return on equity of 11.32% and a net margin of 16.37%. On average, equities research analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $1.95 per share. The ex-dividend date is Friday, August 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares's payout ratio is currently 4.60%.

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.