Semanteon Capital Management LP Cuts Stock Position in First Citizens BancShares, Inc. $FCNCA

Semanteon Capital Management LP reduced its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 59.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 298 shares of the bank’s stock after selling 445 shares during the period. Semanteon Capital Management LP’s holdings in First Citizens BancShares were worth $533,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of First Citizens BancShares by 4.4% during the third quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock worth $778,785,000 after purchasing an additional 18,190 shares in the last quarter. Norges Bank acquired a new position in shares of First Citizens BancShares during the second quarter valued at about $177,604,000. Reinhart Partners LLC. raised its position in shares of First Citizens BancShares by 1.4% in the 3rd quarter. Reinhart Partners LLC. now owns 70,248 shares of the bank’s stock valued at $125,715,000 after purchasing an additional 969 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in First Citizens BancShares by 2.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,276 shares of the bank’s stock worth $118,578,000 after purchasing an additional 1,450 shares in the last quarter. Finally, Bank of America Corp DE grew its position in First Citizens BancShares by 15.7% during the 2nd quarter. Bank of America Corp DE now owns 65,101 shares of the bank’s stock worth $127,369,000 after purchasing an additional 8,826 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Frank B. Holding, Jr. bought 135 shares of First Citizens BancShares stock in a transaction on 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 directly owned 2,527 shares of the company’s stock, valued at $4,118,176.09. The trade was 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 this link. Company insiders own 13.40% of the company’s stock.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of research analyst reports. Raymond James Financial raised shares of First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. Truist Financial increased their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Piper Sandler increased their price objective on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. boosted their price objective on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, TD Cowen lowered their target price on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, First Citizens BancShares has a consensus rating of “Moderate Buy” and a consensus target price of $2,238.27.

First Citizens BancShares Price Performance

Shares of First Citizens BancShares stock opened at $2,016.58 on Friday. The firm has a market cap of $25.09 billion, a PE ratio of 12.17 and a beta of 0.70. First Citizens BancShares, Inc. has a twelve month low of $1,473.62 and a twelve month high of $2,232.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.81. The business has a 50-day moving average price of $2,115.99 and a 200 day moving average price of $1,952.22.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 EPS for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%.The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

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

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.