Huber Capital Management LLC Boosts Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Huber Capital Management LLC boosted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,024 shares of the bank’s stock after purchasing an additional 331 shares during the period. First Citizens BancShares comprises approximately 1.6% of Huber Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Huber Capital Management LLC’s holdings in First Citizens BancShares were worth $10,782,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FCNCA. Goldman Sachs Group Inc. lifted its stake in First Citizens BancShares by 1.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after purchasing an additional 681 shares during the last quarter. Empowered Funds LLC lifted its stake in First Citizens BancShares by 71.9% in the first quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock valued at $727,000 after purchasing an additional 164 shares during the last quarter. Focus Partners Wealth lifted its stake in First Citizens BancShares by 5.2% in the first quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock valued at $447,000 after purchasing an additional 12 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in First Citizens BancShares by 31.3% in the second quarter. EverSource Wealth Advisors LLC now owns 88 shares of the bank’s stock valued at $172,000 after purchasing an additional 21 shares during the last quarter. Finally, Flow Traders U.S. LLC purchased a new position in First Citizens BancShares in the second quarter valued at approximately $260,000. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Trading Down 0.4%

NASDAQ:FCNCA opened at $2,108.61 on Friday. The company has a market cap of $24.43 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.61 and a beta of 0.62. The stock’s fifty day moving average price is $1,988.48 and its two-hundred day moving average price is $2,008.21. First Citizens BancShares, Inc. has a 1 year low of $1,623.76 and a 1 year high of $2,232.21. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00.

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 firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $37.79 earnings per share. As a group, analysts expect that First Citizens BancShares, Inc. will post 177.84 EPS for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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%.

Insider Activity

In related news, CEO Frank B. Holding, Jr. bought 528 shares of the company’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $1,813.37 per share, for a total transaction of $957,459.36. Following the completion of the transaction, the chief executive officer directly owned 64,100 shares in the company, valued at approximately $116,237,017. The trade was a 0.83% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 7,288 shares of company stock worth $12,725,768 in the last quarter. Corporate insiders own 14.63% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the topic of several research analyst reports. Zacks Research upgraded First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Citigroup reiterated a “neutral” rating on shares of First Citizens BancShares in a research note on Friday, April 24th. Wall Street Zen downgraded First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings downgraded First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Finally, Keefe, Bruyette & Woods dropped 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 note on Thursday, April 9th. One equities research 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 company. According to MarketBeat.com, First Citizens BancShares has an average rating of “Hold” and an average target price of $2,215.91.

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.