First Citizens BancShares, Inc. $FCNCA Shares Sold by CenterBook Partners LP

CenterBook Partners LP reduced its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 74.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 411 shares of the bank’s stock after selling 1,214 shares during the period. CenterBook Partners LP’s holdings in First Citizens BancShares were worth $882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new stake in shares of First Citizens BancShares during the 4th quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new position in First Citizens BancShares in the 3rd quarter valued at about $27,000. Harbor Investment Advisory LLC grew its position in First Citizens BancShares by 150.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock valued at $32,000 after acquiring an additional 9 shares in the last quarter. Fifth Third Bancorp grew its position in First Citizens BancShares by 40.0% in the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after acquiring an additional 6 shares in the last quarter. Finally, Allworth Financial LP grew its position in First Citizens BancShares by 21.7% in the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock valued at $51,000 after acquiring an additional 5 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCNCA has been the subject of several research reports. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research report on Friday, April 24th. JPMorgan Chase & Co. decreased their price objective on First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price for the company. in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2,215.91.

First Citizens BancShares Price Performance

Shares of NASDAQ:FCNCA opened at $2,112.87 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. The company has a market cap of $24.48 billion, a P/E ratio of 12.15, a PEG ratio of 1.60 and a beta of 0.62. First Citizens BancShares, Inc. has a 52 week low of $1,623.76 and a 52 week high of $2,232.21. The company has a 50-day moving average price of $1,979.55 and a 200 day moving average price of $2,005.76.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $43.31 by $1.55. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.20 billion. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.During the same quarter in the prior year, the business posted $37.79 earnings per share. Research analysts predict that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a $2.10 dividend. The ex-dividend date is Friday, May 29th. This represents a $8.40 annualized dividend and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio is presently 4.83%.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. acquired 5,940 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the completion of the transaction, the chief executive officer owned 38,111 shares of the company’s stock, valued at $65,810,837.02. The trade was a 18.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 7,437 shares of company stock valued at $12,956,718 in the last three months. Corporate insiders own 14.63% of the company’s stock.

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.