First Citizens BancShares, Inc. $FCNCA Stock Position Lowered by Siena Capital Partners GP LLC

Siena Capital Partners GP LLC trimmed its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 21.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,459 shares of the bank’s stock after selling 1,525 shares during the period. First Citizens BancShares makes up about 2.8% of Siena Capital Partners GP LLC’s holdings, making the stock its 5th largest holding. Siena Capital Partners GP LLC’s holdings in First Citizens BancShares were worth $9,767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EJF Capital LLC lifted its stake in shares of First Citizens BancShares by 2.9% in the 3rd quarter. EJF Capital LLC now owns 2,273 shares of the bank’s stock valued at $4,067,000 after purchasing an additional 64 shares during the last quarter. Harvest Portfolios Group Inc. lifted its position in First Citizens BancShares by 8.0% in the third quarter. Harvest Portfolios Group Inc. now owns 3,292 shares of the bank’s stock valued at $5,890,000 after buying an additional 244 shares during the last quarter. Quantbot Technologies LP purchased a new position in First Citizens BancShares during the third quarter worth about $77,000. Aster Capital Management DIFC Ltd purchased a new position in First Citizens BancShares during the third quarter worth about $216,000. Finally, Handelsbanken Fonder AB increased its position in shares of First Citizens BancShares by 12.1% during the third quarter. Handelsbanken Fonder AB now owns 2,772 shares of the bank’s stock valued at $4,960,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 5.1%

Shares of FCNCA opened at $1,898.15 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.72. The stock has a market cap of $23.61 billion, a PE ratio of 11.45 and a beta of 0.70. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,232.21. The stock has a 50 day simple moving average of $2,102.42 and a 200-day simple moving average of $1,956.50.

First Citizens BancShares (NASDAQ:FCNCA) last announced its earnings results on Friday, January 23rd. The bank reported $51.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $44.24 by $7.03. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. On average, sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

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

Analyst Ratings Changes

FCNCA has been the subject of a number of research analyst reports. TD Cowen lowered their price objective on shares of First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a research report on Monday, January 26th. The Goldman Sachs Group lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price target for the company. in a research report on Tuesday, January 6th. Truist Financial lifted 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. Citigroup reissued a “buy” rating on shares of First Citizens BancShares in a research note on Monday, January 26th. Finally, Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $2,100.00 to $2,200.00 in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, First Citizens BancShares presently has an average rating of “Moderate Buy” and a consensus target price of $2,238.27.

About First Citizens BancShares

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.