First Citizens BancShares, Inc. (NASDAQ:FCNCA) Position Decreased by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC decreased its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241 shares of the bank’s stock after selling 6 shares during the period. Aptus Capital Advisors LLC’s holdings in First Citizens BancShares were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings 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 buying an additional 47,167 shares during the period. Capital Research Global Investors acquired a new position in shares of First Citizens BancShares in the first quarter worth about $298,180,000. Reinhart Partners LLC. boosted its holdings in shares of First Citizens BancShares by 0.7% in the third quarter. Reinhart Partners LLC. now owns 56,798 shares of the bank’s stock worth $104,562,000 after buying an additional 416 shares during the period. Zurich Insurance Group Ltd FI boosted its holdings in shares of First Citizens BancShares by 225.2% in the second quarter. Zurich Insurance Group Ltd FI now owns 42,159 shares of the bank’s stock worth $70,979,000 after buying an additional 29,194 shares during the period. Finally, Sculptor Capital LP boosted its holdings in shares of First Citizens BancShares by 16.8% in the second quarter. Sculptor Capital LP now owns 37,998 shares of the bank’s stock worth $63,974,000 after buying an additional 5,467 shares during the period. Institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Trading Up 2.3 %

Shares of First Citizens BancShares stock opened at $2,200.46 on Friday. The stock has a market capitalization of $31.84 billion, a PE ratio of 12.61 and a beta of 0.80. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. First Citizens BancShares, Inc. has a 52 week low of $1,363.97 and a 52 week high of $2,275.90. The stock has a 50 day moving average price of $1,973.28 and a two-hundred day moving average price of $1,871.30.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $47.40 by ($1.53). The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.36 billion. First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. During the same quarter last year, the company earned $55.92 EPS. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 189.06 earnings per share for the current fiscal year.

First Citizens BancShares declared that its board has initiated a stock repurchase program on Thursday, July 25th that authorizes the company to buyback $3.50 billion in outstanding shares. This buyback authorization authorizes the bank to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.95 dividend. The ex-dividend date is Friday, November 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.35%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s dividend payout ratio (DPR) is presently 3.76%.

Wall Street Analysts Forecast Growth

FCNCA has been the topic of several recent research reports. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Thursday. Barclays lifted their price target on shares of 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. JPMorgan Chase & Co. decreased their price target on shares of First Citizens BancShares from $2,550.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Keefe, Bruyette & Woods lifted their price target on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Piper Sandler boosted 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 research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,025.90.

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.