Orion Portfolio Solutions LLC Has $4.62 Million Stock Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Orion Portfolio Solutions LLC cut its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,188 shares of the bank’s stock after selling 104 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in First Citizens BancShares were worth $4,624,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp boosted its position in shares of First Citizens BancShares by 0.8% in the third quarter. M&T Bank Corp now owns 607 shares of the bank’s stock valued at $1,117,000 after acquiring an additional 5 shares during the period. Mather Group LLC. raised its stake in First Citizens BancShares by 38.5% during the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after purchasing an additional 5 shares during the last quarter. Private Advisor Group LLC boosted its holdings in First Citizens BancShares by 3.0% in the 4th quarter. Private Advisor Group LLC now owns 172 shares of the bank’s stock valued at $363,000 after purchasing an additional 5 shares during the period. Exencial Wealth Advisors LLC increased its holdings in shares of First Citizens BancShares by 1.2% during the 4th quarter. Exencial Wealth Advisors LLC now owns 428 shares of the bank’s stock worth $904,000 after purchasing an additional 5 shares during the period. Finally, Hemington Wealth Management increased its holdings in shares of First Citizens BancShares by 60.0% during the 4th quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock worth $33,000 after purchasing an additional 6 shares during the period. Institutional investors own 78.01% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Craig L. Nix purchased 17 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the purchase, the chief financial officer now directly owns 1,141 shares of the company’s stock, valued at $2,146,369.33. The trade was a 1.51 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FCNCA. Truist Financial lifted their target price on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Barclays boosted their price objective on First Citizens BancShares from $2,456.00 to $2,568.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price for the company in a research report on Tuesday, March 11th. JPMorgan Chase & Co. boosted their price target on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a report on Monday, December 9th. They set a “buy” rating and a $2,600.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and an average target price of $2,288.08.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $1,835.10 on Monday. The stock has a market capitalization of $24.92 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81. First Citizens BancShares, Inc. has a 1 year low of $1,518.00 and a 1 year high of $2,412.93. The firm has a 50 day moving average of $2,025.58 and a 200-day moving average of $2,055.55. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. As a group, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.95 dividend. This represents a $7.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares’s payout ratio is presently 4.12%.

First Citizens BancShares Company 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.