Huber Capital Management LLC Sells 500 Shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Huber Capital Management LLC trimmed its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,893 shares of the bank’s stock after selling 500 shares during the quarter. First Citizens BancShares makes up 2.1% of Huber Capital Management LLC’s portfolio, making the stock its 18th biggest position. Huber Capital Management LLC’s holdings in First Citizens BancShares were worth $10,339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in First Citizens BancShares during the fourth quarter valued at approximately $33,000. Hemington Wealth Management grew its stake in First Citizens BancShares by 60.0% in the fourth quarter. Hemington Wealth Management now owns 16 shares of the bank’s stock valued at $33,000 after acquiring an additional 6 shares during the period. Duncker Streett & Co. Inc. acquired a new position in shares of First Citizens BancShares in the 4th quarter valued at approximately $36,000. Mather Group LLC. lifted its position in First Citizens BancShares by 38.5% in the 4th quarter. Mather Group LLC. now owns 18 shares of the bank’s stock valued at $38,000 after acquiring an additional 5 shares in the last quarter. Finally, Asset Planning Inc bought a new position in shares of First Citizens BancShares during the fourth quarter worth about $38,000. 78.01% of the stock is owned by institutional investors.

Insider Transactions at First Citizens BancShares

In other news, CFO Craig L. Nix bought 17 shares of First Citizens BancShares stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the purchase, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. This represents a 1.51 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler raised shares of First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a research note on Tuesday, March 11th. Citigroup lowered shares of First Citizens BancShares from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group dropped their target price on shares of First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Truist Financial boosted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, UBS Group assumed coverage on First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average target price of $2,288.08.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $1,859.58 on Thursday. First Citizens BancShares, Inc. has a 52 week low of $1,518.00 and a 52 week high of $2,412.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50-day simple moving average is $2,003.56 and its 200 day simple moving average is $2,054.31. The firm has a market cap of $25.25 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.94 and a beta of 0.66.

First Citizens BancShares (NASDAQ:FCNCA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $45.10 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.95 dividend. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

About First Citizens BancShares

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.