Live Oak Private Wealth LLC Increases Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Live Oak Private Wealth LLC increased its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 81.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 304 shares of the bank’s stock after buying an additional 136 shares during the quarter. Live Oak Private Wealth LLC’s holdings in First Citizens BancShares were worth $642,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FCNCA. Sumitomo Mitsui Trust Group Inc. raised its position in First Citizens BancShares by 128.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock worth $115,859,000 after buying an additional 30,828 shares during the last quarter. Hedeker Wealth LLC boosted its holdings in shares of First Citizens BancShares by 19.9% in the fourth quarter. Hedeker Wealth LLC now owns 187 shares of the bank’s stock valued at $395,000 after acquiring an additional 31 shares in the last quarter. Choreo LLC increased its stake in shares of First Citizens BancShares by 4.7% during the fourth quarter. Choreo LLC now owns 221 shares of the bank’s stock worth $467,000 after acquiring an additional 10 shares during the period. Yousif Capital Management LLC raised its holdings in First Citizens BancShares by 8.7% during the fourth quarter. Yousif Capital Management LLC now owns 188 shares of the bank’s stock worth $397,000 after purchasing an additional 15 shares in the last quarter. Finally, Mather Group LLC. lifted its position in First Citizens BancShares by 38.5% in the fourth quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the topic of several recent analyst reports. Truist Financial boosted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price objective on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the stock an “outperform” rating in a report on Monday, January 27th. Citigroup downgraded First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 17th. Piper Sandler upped their price target on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research note on Monday, December 9th. They issued a “buy” rating and a $2,600.00 price objective for the company. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $2,210.47 on Friday. The stock has a fifty day moving average of $2,152.11 and a two-hundred day moving average of $2,058.74. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $30.92 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.00 and a beta of 0.85. First Citizens BancShares, Inc. has a fifty-two week low of $1,438.08 and a fifty-two week high of $2,412.93.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a net margin of 18.55% and a return on equity of 13.22%. On average, analysts anticipate that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Friday, February 28th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.12%.

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.