Waterloo Capital L.P. Invests $274,000 in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Waterloo Capital L.P. purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 163 shares of the bank’s stock, valued at approximately $274,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in First Citizens BancShares by 21.6% in the 1st quarter. Nordea Investment Management AB now owns 29,077 shares of the bank’s stock worth $47,866,000 after buying an additional 5,172 shares during the last quarter. Norges Bank purchased a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $180,039,000. BNP Paribas Financial Markets raised its holdings in shares of First Citizens BancShares by 19.4% during the first quarter. BNP Paribas Financial Markets now owns 3,492 shares of the bank’s stock valued at $5,709,000 after purchasing an additional 568 shares during the last quarter. Bessemer Group Inc. lifted its position in First Citizens BancShares by 2,583.3% during the first quarter. Bessemer Group Inc. now owns 805 shares of the bank’s stock valued at $1,316,000 after purchasing an additional 775 shares during the period. Finally, Virtu Financial LLC purchased a new stake in First Citizens BancShares in the fourth quarter worth approximately $2,376,000. Institutional investors own 61.18% of the company’s stock.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $1,939.57 on Friday. The business’s 50-day simple moving average is $1,944.98 and its two-hundred day simple moving average is $1,757.03. First Citizens BancShares, Inc. has a 52 week low of $1,274.91 and a 52 week high of $2,174.80. The stock has a market cap of $28.18 billion, a PE ratio of 10.77 and a beta of 0.82. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.72.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $50.87 EPS for the quarter, topping analysts’ consensus estimates of $44.91 by $5.96. First Citizens BancShares had a return on equity of 14.84% and a net margin of 18.19%. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the firm earned $52.60 EPS. As a group, analysts forecast that First Citizens BancShares, Inc. will post 200.92 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $1.64 per share. The ex-dividend date was Friday, August 30th. This represents a $6.56 annualized dividend and a yield of 0.34%. First Citizens BancShares’s payout ratio is 3.64%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FCNCA shares. Keefe, Bruyette & Woods boosted their target price on shares of First Citizens BancShares from $2,100.00 to $2,300.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Raymond James upgraded First Citizens BancShares from a “market perform” rating to an “outperform” rating and set a $1,900.00 price objective for the company in a research report on Tuesday, July 2nd. Piper Sandler raised their target price on 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 shares of First Citizens BancShares in a research report on Tuesday, July 9th. They set a “buy” rating and a $2,005.00 price target for the company. Finally, Barclays increased their price objective on shares of First Citizens BancShares from $1,950.00 to $2,250.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.