CenterBook Partners LP Grows Stock Position in First Citizens BancShares, Inc. $FCNCA

CenterBook Partners LP raised its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 225.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,625 shares of the bank’s stock after buying an additional 1,126 shares during the quarter. CenterBook Partners LP’s holdings in First Citizens BancShares were worth $2,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in First Citizens BancShares in the 3rd quarter valued at about $27,000. UMB Bank n.a. boosted its position in First Citizens BancShares by 100.0% during the third quarter. UMB Bank n.a. now owns 16 shares of the bank’s stock worth $29,000 after purchasing an additional 8 shares during the period. Steph & Co. purchased a new position in shares of First Citizens BancShares in the third quarter worth about $32,000. Root Financial Partners LLC purchased a new position in shares of First Citizens BancShares in the third quarter worth about $32,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of First Citizens BancShares by 280.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after purchasing an additional 14 shares during the period. Institutional investors own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Zacks Research downgraded shares of First Citizens BancShares from a “hold” rating to a “strong sell” rating in a report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday, December 29th. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. Truist Financial boosted their price objective on First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Finally, Citigroup reissued a “buy” rating on shares of First Citizens BancShares in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,238.27.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $2,060.02 on Thursday. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 12.43 and a beta of 0.70. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,232.21. The stock has a fifty day moving average of $2,117.51 and a 200 day moving average of $1,950.02. 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 (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%. On average, research analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $2.10 per share. The ex-dividend date is Friday, February 27th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s payout ratio is presently 5.07%.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. purchased 135 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average price of $1,629.67 per share, with a total value of $220,005.45. Following the acquisition, the chief executive officer directly owned 2,527 shares of the company’s stock, valued at approximately $4,118,176.09. This represents a 5.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.40% of the stock is currently owned by insiders.

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.