Intech Investment Management LLC Has $2 Million Position in First Citizens BancShares, Inc. $FCNCA

Intech Investment Management LLC lowered its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 29.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 930 shares of the bank’s stock after selling 387 shares during the quarter. Intech Investment Management LLC’s holdings in First Citizens BancShares were worth $1,996,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Hiddenite Capital Partners LP bought a new stake in shares of First Citizens BancShares in the 4th quarter worth $6,868,000. Citigroup Inc. raised its holdings in shares of First Citizens BancShares by 23.4% in the third quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock valued at $30,305,000 after purchasing an additional 3,215 shares during the last quarter. Check Capital Management Inc. CA raised its holdings in shares of First Citizens BancShares by 21.0% in the fourth quarter. Check Capital Management Inc. CA now owns 42,788 shares of the bank’s stock valued at $91,831,000 after purchasing an additional 7,424 shares during the last quarter. Founders Financial Alliance LLC raised its holdings in shares of First Citizens BancShares by 484.7% in the third quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank’s stock valued at $2,742,000 after purchasing an additional 1,270 shares during the last quarter. Finally, Barr E S & Co. raised its holdings in shares of First Citizens BancShares by 33.2% in the fourth quarter. Barr E S & Co. now owns 5,995 shares of the bank’s stock valued at $12,866,000 after purchasing an additional 1,495 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $1,955.08 on Thursday. The company has a market cap of $22.66 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.52 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 quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. The firm’s 50-day simple moving average is $1,957.58 and its two-hundred day simple moving average is $1,996.42.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, beating the consensus estimate of $43.31 by $1.55. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period 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 business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $2.10 per share. The ex-dividend date is Friday, May 29th. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares’s dividend payout ratio is currently 4.83%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Zacks Research upgraded shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price for the company. in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Weiss Ratings downgraded shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Finally, Piper Sandler set a $2,050.00 price target on shares of First Citizens BancShares in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, First Citizens BancShares presently has an average rating of “Hold” and a consensus price target of $2,215.91.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. sold 5,346 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total transaction of $10,257,316.74. Following the sale, the chief executive officer directly owned 100,654 shares in the company, valued at $193,123,823.26. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders bought 6,187 shares of company stock worth $10,640,161 in the last quarter. Corporate insiders own 14.63% of the company’s stock.

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.