Savant Capital LLC Lowers Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Savant Capital LLC lowered its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 81.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107 shares of the bank’s stock after selling 477 shares during the quarter. Savant Capital LLC’s holdings in First Citizens BancShares were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FCNCA. Hiddenite Capital Partners LP purchased a new position in shares of First Citizens BancShares in the fourth quarter valued at approximately $6,868,000. Citigroup Inc. lifted its position 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 acquiring an additional 3,215 shares in the last quarter. Check Capital Management Inc. CA lifted its position 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 acquiring an additional 7,424 shares in the last quarter. Founders Financial Alliance LLC increased 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. lifted its position in First Citizens BancShares by 33.2% during the fourth quarter. Barr E S & Co. now owns 5,995 shares of the bank’s stock worth $12,866,000 after buying an additional 1,495 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

NASDAQ FCNCA opened at $2,075.10 on Monday. The business’s fifty day simple moving average is $1,965.38 and its 200-day simple moving average is $1,999.85. 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 has a market cap of $24.04 billion, a PE ratio of 11.93, a P/E/G ratio of 1.58 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.

First Citizens BancShares (NASDAQ:FCNCA) last posted its earnings results 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 company 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 last year, the firm earned $37.79 earnings per share. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current year.

First Citizens BancShares Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently commented on FCNCA shares. Keefe, Bruyette & Woods reduced their price objective on First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a research report on Thursday, April 9th. Piper Sandler set a $2,050.00 target price on First Citizens BancShares in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price target on the stock. in a report on Wednesday, April 8th. Weiss Ratings lowered First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Finally, Citigroup reiterated a “neutral” rating on shares of First Citizens BancShares in a 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 given a Hold rating to the stock. According to data from MarketBeat.com, First Citizens BancShares has an average rating of “Hold” and an average target price of $2,215.91.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. sold 5,346 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 100,654 shares of the company’s stock, valued at $193,123,823.26. This trade represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 6,187 shares of company stock worth $10,640,161 over the last ninety days. 14.63% of the stock is owned by company insiders.

First Citizens BancShares Company 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.