Natixis Advisors LLC Purchases 768 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Natixis Advisors LLC boosted its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,467 shares of the bank’s stock after acquiring an additional 768 shares during the period. Natixis Advisors LLC owned 0.15% of First Citizens BancShares worth $36,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ORG Partners LLC purchased a new position in shares of First Citizens BancShares in the 1st quarter worth about $29,000. Mather Group LLC. purchased a new position in First Citizens BancShares in the first quarter worth about $31,000. GAMMA Investing LLC bought a new position in shares of First Citizens BancShares in the fourth quarter worth approximately $30,000. LRI Investments LLC purchased a new stake in shares of First Citizens BancShares during the first quarter valued at approximately $33,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of First Citizens BancShares during the second quarter valued at approximately $35,000. Institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Stock Up 1.9 %

Shares of FCNCA stock opened at $2,030.70 on Tuesday. The company has a market capitalization of $29.51 billion, a price-to-earnings ratio of 11.27 and a beta of 0.83. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.08 and a quick ratio of 1.08. The company’s fifty day moving average price is $1,893.59 and its 200-day moving average price is $1,727.72. First Citizens BancShares, Inc. has a one year low of $1,274.91 and a one year high of $2,174.80.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, July 25th. The bank reported $50.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $44.91 by $5.96. First Citizens BancShares had a return on equity of 14.84% and a net margin of 18.19%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business posted $52.60 earnings per share. Sell-side analysts expect that First Citizens BancShares, Inc. will post 200.92 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $6.56 dividend on an annualized basis and a yield of 0.32%. First Citizens BancShares’s dividend payout ratio is currently 3.64%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FCNCA. Barclays upped their price objective on First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Piper Sandler boosted their price target on First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods increased their price objective on First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Raymond James raised First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 target price for the company in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group initiated coverage on shares of First Citizens BancShares in a report on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,920.82.

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.