Greenwich Wealth Management LLC Has $436,000 Stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Greenwich Wealth Management LLC raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 27.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 259 shares of the bank’s stock after purchasing an additional 55 shares during the quarter. Greenwich Wealth Management LLC’s holdings in First Citizens BancShares were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. ORG Partners LLC bought a new position in First Citizens BancShares in the 1st quarter valued at $29,000. Mather Group LLC. purchased a new stake in First Citizens BancShares during the first quarter worth about $31,000. LRI Investments LLC bought a new stake in First Citizens BancShares in the first quarter worth about $33,000. V Square Quantitative Management LLC bought a new stake in First Citizens BancShares in the second quarter worth about $35,000. Finally, Principal Securities Inc. purchased a new position in First Citizens BancShares in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Price Performance

FCNCA opened at $1,832.68 on Monday. The stock’s 50 day simple moving average is $1,930.42 and its 200 day simple moving average is $1,750.21. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a 1 year low of $1,274.91 and a 1 year high of $2,174.80. The firm has a market cap of $26.52 billion, a price-to-earnings ratio of 10.17 and a beta of 0.82.

First Citizens BancShares (NASDAQ:FCNCA) last issued 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 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 analysts’ expectations of $2.30 billion. During the same quarter last year, the business earned $52.60 earnings per share. As a group, analysts predict that First Citizens BancShares, Inc. will post 200.92 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Friday, August 30th. First Citizens BancShares’s payout ratio is 3.64%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. 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. Piper Sandler increased their target price on shares of First Citizens BancShares from $1,950.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Jefferies Financial Group began coverage on First Citizens BancShares in a report on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 target price for the company. Barclays raised their price objective 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. Finally, Keefe, Bruyette & Woods increased their target price 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. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,920.82.

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.