Sculptor Capital LP Grows Stock Holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Sculptor Capital LP boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 37,998 shares of the bank’s stock after acquiring an additional 5,467 shares during the period. First Citizens BancShares comprises approximately 1.2% of Sculptor Capital LP’s holdings, making the stock its 25th biggest holding. Sculptor Capital LP’s holdings in First Citizens BancShares were worth $63,974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at $29,000. Mather Group LLC. acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at $31,000. LRI Investments LLC acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at $33,000. V Square Quantitative Management LLC acquired a new position in shares of First Citizens BancShares in the 2nd quarter valued at $35,000. Finally, Riverview Trust Co acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at $49,000. 61.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FCNCA shares. Piper Sandler lifted their target price on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Raymond James upgraded shares of First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 target price on the stock in a report on Tuesday, July 2nd. Barclays lifted their target price on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Wedbush lowered shares of First Citizens BancShares from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $2,450.00 to $2,150.00 in a report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1,962.90.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $1,876.68 on Friday. First Citizens BancShares, Inc. has a 12-month low of $1,274.91 and a 12-month high of $2,174.80. The company has a market capitalization of $27.27 billion, a price-to-earnings ratio of 10.42 and a beta of 0.82. 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 firm’s fifty day moving average price is $1,954.37 and its 200 day moving average price is $1,768.40.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly 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 net margin of 18.19% and a return on equity of 14.84%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the firm posted $52.60 EPS. On average, research analysts forecast that First Citizens BancShares, Inc. will post 200.92 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, August 30th. First Citizens BancShares’s dividend payout ratio is presently 3.64%.

First Citizens BancShares declared that its board has initiated a share repurchase plan on Thursday, July 25th that permits the company to buyback $3.50 billion in shares. This buyback authorization permits the bank to purchase up to 12.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.