UMB Bank n.a. Makes New $177,000 Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

UMB Bank n.a. acquired a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 96 shares of the bank’s stock, valued at approximately $177,000.

A number of other hedge funds also recently made changes to their positions in FCNCA. Vanguard Group Inc. lifted its stake in shares of First Citizens BancShares by 4.6% in the first quarter. Vanguard Group Inc. now owns 1,064,822 shares of the bank’s stock worth $1,740,984,000 after acquiring an additional 47,167 shares in the last quarter. Wellington Management Group LLP increased its holdings in First Citizens BancShares by 21.1% during the 4th quarter. Wellington Management Group LLP now owns 239,563 shares of the bank’s stock worth $339,933,000 after purchasing an additional 41,793 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of First Citizens BancShares in the 1st quarter valued at approximately $298,180,000. Reinhart Partners LLC. boosted its stake in shares of First Citizens BancShares by 3.1% during the 1st quarter. Reinhart Partners LLC. now owns 58,583 shares of the bank’s stock valued at $95,783,000 after buying an additional 1,780 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of First Citizens BancShares by 10.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 46,626 shares of the bank’s stock worth $66,161,000 after buying an additional 4,298 shares in the last quarter. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Stock Up 1.2 %

Shares of First Citizens BancShares stock opened at $2,021.10 on Friday. The stock has a market capitalization of $29.37 billion, a price-to-earnings ratio of 11.22 and a beta of 0.81. First Citizens BancShares, Inc. has a twelve month low of $1,290.60 and a twelve month high of $2,174.80. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.72. The business’s 50 day simple moving average is $1,936.49 and its 200-day simple moving average is $1,796.50.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, July 25th. The bank reported $50.87 earnings per share 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 for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the company earned $52.60 earnings per share. Equities research analysts forecast that First Citizens BancShares, Inc. will post 200 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Friday, August 30th. First Citizens BancShares’s payout ratio is 3.64%.

First Citizens BancShares announced that its board has approved a stock repurchase plan on Thursday, July 25th that allows the company to repurchase $3.50 billion in outstanding shares. This repurchase authorization allows the bank to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Barclays increased their price target on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price objective on 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. Raymond James raised 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. Finally, StockNews.com downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2,012.11.

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.