Havemeyer Place LP Takes $1.07 Million Position in First Citizens BancShares, Inc. $FCNCA

Havemeyer Place LP bought a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 496 shares of the bank’s stock, valued at approximately $1,065,000.

Several other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in First Citizens BancShares by 4.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock worth $778,785,000 after acquiring an additional 18,190 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in First Citizens BancShares by 117,518.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock worth $441,755,000 after acquiring an additional 205,658 shares during the last quarter. Alliancebernstein L.P. increased its holdings in First Citizens BancShares by 16.3% in the 3rd quarter. Alliancebernstein L.P. now owns 78,310 shares of the bank’s stock worth $140,109,000 after acquiring an additional 10,948 shares during the last quarter. Reinhart Partners LLC. increased its holdings in First Citizens BancShares by 10.8% in the 4th quarter. Reinhart Partners LLC. now owns 77,814 shares of the bank’s stock worth $167,041,000 after acquiring an additional 7,566 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in First Citizens BancShares by 57.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 76,088 shares of the bank’s stock worth $164,247,000 after acquiring an additional 27,789 shares during the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Piper Sandler set a $2,050.00 price objective on First Citizens BancShares in a report on Friday, April 24th. Keefe, Bruyette & Woods decreased their price objective on First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective for the company. in a report on Wednesday, April 8th. Finally, Weiss Ratings lowered First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $2,215.91.

First Citizens BancShares Price Performance

Shares of NASDAQ FCNCA opened at $2,075.10 on Monday. First Citizens BancShares, Inc. has a 52 week low of $1,623.76 and a 52 week high of $2,232.21. The business has a 50-day simple moving average of $1,965.38 and a two-hundred day simple moving average of $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 company has a market cap of $24.04 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.58 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, topping 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 business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $37.79 EPS. Research analysts anticipate that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm 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. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, May 29th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.83%.

Insider Activity

In other news, CEO Frank B. Holding, Jr. sold 5,346 shares of First Citizens BancShares 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 completion of the sale, the chief executive officer owned 100,654 shares in the company, valued at approximately $193,123,823.26. This trade represents a 5.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders bought 6,187 shares of company stock worth $10,640,161. Company insiders own 14.63% of the company’s stock.

First Citizens BancShares 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.