Harbor Capital Advisors Inc. Purchases 91 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Harbor Capital Advisors Inc. raised its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 4,676 shares of the bank’s stock after acquiring an additional 91 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in First Citizens BancShares were worth $9,880,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Brooklyn Investment Group bought a new stake in shares of First Citizens BancShares during the third quarter valued at approximately $39,000. GAMMA Investing LLC increased its holdings in shares of First Citizens BancShares by 129.6% in the 3rd quarter. GAMMA Investing LLC now owns 62 shares of the bank’s stock worth $114,000 after purchasing an additional 35 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of First Citizens BancShares by 17.7% in the 2nd quarter. National Bank of Canada FI now owns 73 shares of the bank’s stock worth $124,000 after purchasing an additional 11 shares in the last quarter. Quarry LP purchased a new position in shares of First Citizens BancShares in the second quarter worth $126,000. Finally, Private Trust Co. NA lifted its holdings in shares of First Citizens BancShares by 2,100.0% during the third quarter. Private Trust Co. NA now owns 88 shares of the bank’s stock valued at $162,000 after purchasing an additional 84 shares in the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FCNCA shares. Wedbush decreased their target price on First Citizens BancShares from $2,150.00 to $2,000.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Truist Financial started coverage on shares of First Citizens BancShares in a research report on Tuesday. They set a “hold” rating and a $2,303.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Citizens BancShares in a research report on Monday, December 9th. They issued a “buy” rating and a $2,600.00 target price for the company. JPMorgan Chase & Co. increased their price target on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, UBS Group assumed coverage on First Citizens BancShares in a report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, First Citizens BancShares currently has an average rating of “Hold” and an average target price of $2,290.75.

First Citizens BancShares Price Performance

FCNCA stock traded down $32.37 during trading on Friday, reaching $2,061.63. The company’s stock had a trading volume of 24,373 shares, compared to its average volume of 58,007. The company’s fifty day moving average is $2,159.07 and its 200-day moving average is $1,996.68. First Citizens BancShares, Inc. has a 1 year low of $1,363.97 and a 1 year high of $2,388.78. The company has a market capitalization of $28.84 billion, a P/E ratio of 11.81 and a beta of 0.86. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, October 24th. The bank reported $45.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $47.40 by ($1.53). First Citizens BancShares had a net margin of 17.36% and a return on equity of 13.63%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the business posted $55.92 EPS. On average, research analysts expect that First Citizens BancShares, Inc. will post 188.21 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $1.95 dividend. This represents a $7.80 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, November 29th. This is an increase from First Citizens BancShares’s previous quarterly dividend of $1.64. First Citizens BancShares’s payout ratio is 4.47%.

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.