Angel Oak Capital Advisors LLC Takes $824,000 Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Angel Oak Capital Advisors LLC bought a new position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 390 shares of the bank's stock, valued at approximately $824,000. First Citizens BancShares accounts for approximately 1.1% of Angel Oak Capital Advisors LLC's investment portfolio, making the stock its 18th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of FCNCA. Financial Life Planners acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth $33,000. Hemington Wealth Management raised its holdings in shares of First Citizens BancShares by 60.0% during the fourth 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. Mather Group LLC. raised its holdings in shares of First Citizens BancShares by 38.5% during the fourth quarter. Mather Group LLC. now owns 18 shares of the bank's stock worth $38,000 after purchasing an additional 5 shares during the period. Asset Planning Inc acquired a new stake in shares of First Citizens BancShares during the fourth quarter worth $38,000. Finally, Brooklyn Investment Group acquired a new stake in shares of First Citizens BancShares during the third quarter worth $39,000. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Price Performance

First Citizens BancShares stock traded down $67.86 during trading hours on Friday, hitting $2,049.25. 72,498 shares of the company traded hands, compared to its average volume of 62,850. The firm has a market cap of $28.67 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.94 and a beta of 0.85. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.68. The firm's 50-day simple moving average is $2,145.78 and its two-hundred day simple moving average is $2,069.58. First Citizens BancShares, Inc. has a 1-year low of $1,500.94 and a 1-year high of $2,412.93.

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

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.38%. First Citizens BancShares's dividend payout ratio (DPR) is 4.12%.

Wall Street Analyst Weigh In

FCNCA has been the topic of a number of analyst reports. StockNews.com raised shares of First Citizens BancShares from a "sell" rating to a "hold" rating in a report on Saturday, February 1st. Wedbush dropped their price objective on shares of First Citizens BancShares from $2,150.00 to $2,000.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Piper Sandler increased their price objective on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Citigroup cut shares of First Citizens BancShares from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, First Citizens BancShares has an average rating of "Moderate Buy" and a consensus target price of $2,323.50.

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.