First Citizens BancShares, Inc. (NASDAQ:FCNCA) Shares Sold by Gator Capital Management LLC

Gator Capital Management LLC lowered its stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,703 shares of the bank’s stock after selling 15 shares during the period. First Citizens BancShares accounts for 6.9% of Gator Capital Management LLC’s holdings, making the stock its 2nd largest holding. Gator Capital Management LLC’s holdings in First Citizens BancShares were worth $18,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of First Citizens BancShares by 35.7% in the fourth quarter. JPMorgan Chase & Co. now owns 392,097 shares of the bank’s stock valued at $828,510,000 after buying an additional 103,137 shares during the period. Norges Bank acquired a new position in First Citizens BancShares in the 4th quarter valued at approximately $298,426,000. Proficio Capital Partners LLC bought a new position in shares of First Citizens BancShares during the fourth quarter valued at $147,341,000. Reinhart Partners LLC. raised its stake in shares of 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 last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of 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 worth $115,859,000 after purchasing an additional 30,828 shares during the period. Institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FCNCA shares. JPMorgan Chase & Co. raised their target price on First Citizens BancShares from $2,550.00 to $2,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Truist Financial raised their price objective 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. Piper Sandler upgraded First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 target price on the stock in a report on Tuesday, March 11th. StockNews.com raised shares of First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, February 1st. Finally, UBS Group initiated coverage on shares of First Citizens BancShares in a research report on Tuesday, December 17th. They issued a “buy” rating and a $2,700.00 price target on the stock. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,288.08.

First Citizens BancShares Trading Down 3.7 %

NASDAQ:FCNCA opened at $1,571.21 on Friday. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,412.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $21.33 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 0.94 and a beta of 0.66. The firm has a fifty day simple moving average of $1,978.80 and a two-hundred day simple moving average of $2,050.23.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Friday, January 24th. The bank reported $45.10 EPS for the quarter, beating the consensus estimate 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 167.59 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.95 per share. This represents a $7.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, February 28th. First Citizens BancShares’s payout ratio is 4.12%.

Insider Buying and Selling

In other First Citizens BancShares news, CFO Craig L. Nix bought 17 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $1,881.13 per share, with a total value of $31,979.21. Following the completion of the transaction, the chief financial officer now directly owns 1,141 shares in the company, valued at approximately $2,146,369.33. The trade was a 1.51 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 13.19% of the stock is owned by company insiders.

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.