Stieven Capital Advisors L.P. Sells 2,848 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Stieven Capital Advisors L.P. lessened its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 30.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,637 shares of the bank’s stock after selling 2,848 shares during the period. First Citizens BancShares makes up approximately 2.5% of Stieven Capital Advisors L.P.’s holdings, making the stock its 13th largest position. Stieven Capital Advisors L.P.’s holdings in First Citizens BancShares were worth $14,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its position in First Citizens BancShares by 11.6% in the 3rd quarter. FMR LLC now owns 323,532 shares of the bank’s stock worth $595,607,000 after purchasing an additional 33,713 shares during the last quarter. JPMorgan Chase & Co. grew its position in First Citizens BancShares by 6.8% during the third quarter. JPMorgan Chase & Co. now owns 288,960 shares of the bank’s stock worth $531,961,000 after buying an additional 18,501 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in First Citizens BancShares by 15.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,529 shares of the bank’s stock worth $107,749,000 after buying an additional 7,613 shares in the last quarter. Reinhart Partners LLC. increased its stake in First Citizens BancShares by 2.1% during the fourth quarter. Reinhart Partners LLC. now owns 57,981 shares of the bank’s stock valued at $122,516,000 after acquiring an additional 1,183 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in First Citizens BancShares by 128.4% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,831 shares of the bank’s stock valued at $115,859,000 after acquiring an additional 30,828 shares during the period. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FCNCA. Citigroup cut First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Truist Financial increased their price objective on shares of First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a research note on Wednesday, January 29th. Piper Sandler lifted their target price on shares of First Citizens BancShares from $2,100.00 to $2,250.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. StockNews.com upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, February 1st. Finally, The Goldman Sachs Group upped their price objective on First Citizens BancShares from $2,025.00 to $2,625.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,323.50.

First Citizens BancShares Trading Up 1.6 %

FCNCA stock opened at $2,141.49 on Friday. The business has a fifty day moving average price of $2,143.80 and a 200 day moving average price of $2,065.70. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.08 and a quick ratio of 1.08. First Citizens BancShares, Inc. has a fifty-two week low of $1,475.85 and a fifty-two week high of $2,412.93. The stock has a market capitalization of $29.96 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.00 and a beta of 0.85.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Friday, January 24th. The bank reported $45.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $39.32 by $5.78. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. Analysts expect that First Citizens BancShares, Inc. will post 165.15 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.95 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $7.80 annualized dividend and a dividend yield of 0.36%. First Citizens BancShares’s dividend payout ratio (DPR) is currently 4.12%.

First Citizens BancShares Profile

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.