Osaic Holdings Inc. Buys 731 Shares of First Citizens BancShares, Inc. $FCNCA

Osaic Holdings Inc. raised its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 14.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,818 shares of the bank’s stock after acquiring an additional 731 shares during the quarter. Osaic Holdings Inc.’s holdings in First Citizens BancShares were worth $11,350,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FCNCA. Royal Bank of Canada increased its position in First Citizens BancShares by 14.2% during the 1st quarter. Royal Bank of Canada now owns 5,465 shares of the bank’s stock worth $10,134,000 after buying an additional 680 shares during the period. Generate Investment Management Ltd acquired a new position in shares of First Citizens BancShares in the second quarter valued at about $6,584,000. Sculptor Capital LP grew its stake in shares of First Citizens BancShares by 16.0% in the first quarter. Sculptor Capital LP now owns 41,463 shares of the bank’s stock valued at $76,877,000 after acquiring an additional 5,730 shares in the last quarter. Strs Ohio bought a new position in First Citizens BancShares during the first quarter worth about $1,074,000. Finally, Alberta Investment Management Corp raised its stake in First Citizens BancShares by 0.7% in the 2nd quarter. Alberta Investment Management Corp now owns 28,376 shares of the bank’s stock worth $55,517,000 after purchasing an additional 200 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Citizens BancShares

In related news, Director Ellen R. Alemany acquired 300 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average cost of $1,000.00 per share, for a total transaction of $300,000.00. Following the transaction, the director directly owned 300 shares in the company, valued at $300,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank B. Holding, Jr. acquired 135 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average cost of $1,629.67 per share, with a total value of $220,005.45. Following the purchase, the chief executive officer owned 2,527 shares in the company, valued at $4,118,176.09. The trade was a 5.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Trading Up 1.3%

Shares of FCNCA opened at $2,134.99 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,412.93. The firm has a market cap of $26.56 billion, a price-to-earnings ratio of 12.62 and a beta of 0.71. The business’s fifty day moving average is $1,866.47 and its 200-day moving average is $1,909.34.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, beating the consensus estimate of $41.51 by $3.11. First Citizens BancShares had a return on equity of 11.09% and a net margin of 15.99%.The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.21 billion. Equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, November 28th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.95. First Citizens BancShares’s dividend payout ratio is 4.97%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FCNCA. Weiss Ratings restated a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday. Truist Financial boosted their price target on First Citizens BancShares from $2,000.00 to $2,050.00 and gave the company a “hold” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. increased their price target on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup restated an “overweight” rating on shares of First Citizens BancShares in a research note on Tuesday. Finally, Barclays cut their target price on First Citizens BancShares from $2,400.00 to $2,190.00 and set an “equal weight” rating for the company in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,149.09.

First Citizens BancShares Profile

First Citizens BancShares, Inc is the bank holding company for First Citizens Bank, a full‑service commercial bank headquartered in Raleigh, North Carolina. The company traces its roots to a community bank founded in 1898 and has grown into a diversified financial services organization that operates through its banking subsidiary to serve retail, commercial and institutional clients.

First Citizens offers a broad suite of banking products and services, including consumer and business deposit accounts, commercial and industrial lending, real estate and mortgage lending, treasury and cash management, and specialized lending solutions.