WINTON GROUP Ltd Invests $2.10 Million in First Citizens BancShares, Inc. $FCNCA

WINTON GROUP Ltd acquired a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,074 shares of the bank’s stock, valued at approximately $2,101,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings 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 acquiring an additional 680 shares during the period. Generate Investment Management Ltd bought a new stake in shares of First Citizens BancShares during the 2nd quarter valued at about $6,584,000. National Bank of Canada FI grew its stake in First Citizens BancShares by 59.5% during the first quarter. National Bank of Canada FI now owns 2,463 shares of the bank’s stock worth $4,566,000 after purchasing an additional 919 shares during the period. Sculptor Capital LP increased its holdings in First Citizens BancShares by 16.0% in the first quarter. Sculptor Capital LP now owns 41,463 shares of the bank’s stock worth $76,877,000 after purchasing an additional 5,730 shares in the last quarter. Finally, Strs Ohio bought a new stake in First Citizens BancShares in the first quarter worth approximately $1,074,000. 78.01% of the stock is owned by institutional investors and hedge funds.

First Citizens BancShares Stock Performance

Shares of FCNCA opened at $1,971.18 on Wednesday. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The company has a market cap of $24.52 billion, a PE ratio of 11.66 and a beta of 0.71. The stock has a 50-day moving average price of $1,812.74 and a 200-day moving average price of $1,895.93.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Thursday, October 23rd. The bank reported $44.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $41.51 by $3.11. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.21 billion. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.09%. As a group, equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a dividend of $2.10 per share. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, November 28th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio is currently 4.97%.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany purchased 300 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $1,000.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director owned 300 shares of the company’s stock, valued at $300,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Frank B. Holding, Jr. acquired 135 shares of the stock in a transaction dated Wednesday, November 26th. The stock was acquired at an average price of $1,629.67 per share, with a total value of $220,005.45. Following the completion of the acquisition, the chief executive officer owned 2,527 shares in the company, valued at approximately $4,118,176.09. The trade was a 5.64% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 13.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FCNCA. Truist Financial upped their price objective on shares of First Citizens BancShares from $2,000.00 to $2,050.00 and gave the stock a “hold” rating in a research report on Tuesday, October 28th. Piper Sandler decreased their price target 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 24th. Keefe, Bruyette & Woods dropped their price target on First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating on the stock in a report on Friday, October 24th. UBS Group upped their price objective on First Citizens BancShares from $2,200.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group lowered their target price on First Citizens BancShares from $2,250.00 to $1,950.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,126.36.

About First Citizens BancShares

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.