Retireful LLC Makes New $344,000 Investment in First Citizens BancShares, Inc. $FCNCA

Key Points

• Retireful LLC has made a new investment in First Citizens BancShares, purchasing 176 shares valued at approximately $344,000 in the second quarter.
• First Citizens BancShares reported earnings per share of $44.78 for the last quarter, exceeding estimates by $5.70, and had revenues of $2.38 billion.
• Insider trading activity includes major shareholder Olivia Britton Holding buying 409 shares for $666,670, boosting their ownership by over 30%.

Retireful LLC purchased a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 176 shares of the bank's stock, valued at approximately $344,000.

A number of other institutional investors have also recently made changes to their positions in FCNCA. GTS Securities LLC acquired a new stake in First Citizens BancShares during the 4th quarter worth approximately $201,000. Toronto Dominion Bank raised its stake in shares of First Citizens BancShares by 6.3% in the fourth quarter. Toronto Dominion Bank now owns 1,300 shares of the bank's stock valued at $2,747,000 after acquiring an additional 77 shares in the last quarter. Ascent Group LLC acquired a new position in First Citizens BancShares during the 4th quarter worth $201,000. Old North State Trust LLC increased its holdings in First Citizens BancShares by 33.5% during the 4th quarter. Old North State Trust LLC now owns 371 shares of the bank's stock worth $784,000 after purchasing an additional 93 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in First Citizens BancShares by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,681 shares of the bank's stock worth $9,892,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 78.01% of the company's stock.

First Citizens BancShares Stock Performance

NASDAQ FCNCA opened at $1,835.09 on Thursday. The company has a fifty day moving average of $1,956.85 and a two-hundred day moving average of $1,885.13. The company has a market capitalization of $23.71 billion, a PE ratio of 10.83 and a beta of 0.71. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.04 and a quick ratio of 1.04.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last posted its earnings results on Friday, July 25th. The bank reported $44.78 earnings per share for the quarter, beating the consensus estimate of $39.08 by $5.70. The business 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%. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a dividend of $1.95 per share. The ex-dividend date was Friday, August 29th. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.4%. First Citizens BancShares's dividend payout ratio (DPR) is 4.60%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FCNCA shares. Citigroup upped their target price on shares of First Citizens BancShares from $1,900.00 to $2,050.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Piper Sandler set a $2,150.00 price objective on shares of First Citizens BancShares and gave the company a "neutral" rating in a report on Monday, July 28th. JPMorgan Chase & Co. boosted their target price on shares of 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. Wall Street Zen upgraded First Citizens BancShares from a "sell" rating to a "hold" rating in a research note on Saturday, September 20th. Finally, Cowen reaffirmed a "buy" rating on shares of First Citizens BancShares in a research report on Monday, July 28th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,291.17.

Insider Activity

In other First Citizens BancShares news, major shareholder Olivia Britton Holding purchased 409 shares of First Citizens BancShares stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $1,630.00 per share, for a total transaction of $666,670.00. Following the transaction, the insider directly owned 1,764 shares in the company, valued at $2,875,320. This trade represents a 30.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Frank B. Holding, Jr. purchased 600 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average price of $1,698.75 per share, with a total value of $1,019,250.00. Following the purchase, the chief executive officer owned 32,300 shares in the company, valued at $54,869,625. This trade represents a 1.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,494 shares of company stock valued at $2,485,986 in the last ninety days. 13.40% of the stock is currently owned by company insiders.

About First Citizens BancShares

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.

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