Stieven Capital Advisors L.P. Trims Position in First Citizens BancShares, Inc. $FCNCA

Stieven Capital Advisors L.P. cut its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 12.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,614 shares of the bank’s stock after selling 899 shares during the quarter. First Citizens BancShares comprises 2.6% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 15th biggest position. Stieven Capital Advisors L.P.’s holdings in First Citizens BancShares were worth $14,195,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in First Citizens BancShares by 21.7% during the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock worth $51,000 after purchasing an additional 5 shares during the last quarter. MBL Wealth LLC boosted its stake in First Citizens BancShares by 0.8% during the 4th quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock worth $1,335,000 after purchasing an additional 5 shares during the last quarter. Alteri Wealth LLC boosted its stake in First Citizens BancShares by 4.1% during the 3rd quarter. Alteri Wealth LLC now owns 154 shares of the bank’s stock worth $276,000 after purchasing an additional 6 shares during the last quarter. Fifth Third Bancorp boosted its stake in First Citizens BancShares by 40.0% during the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after purchasing an additional 6 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in First Citizens BancShares by 0.6% during the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock worth $2,051,000 after purchasing an additional 6 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. bought 5,940 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $1,726.82 per share, with a total value of $10,257,310.80. Following the completion of the transaction, the chief executive officer directly owned 38,111 shares of the company’s stock, valued at $65,810,837.02. This represents a 18.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 6,198 shares of company stock valued at $10,661,547 over the last 90 days. Corporate insiders own 14.63% of the company’s stock.

First Citizens BancShares Trading Up 0.1%

Shares of FCNCA stock opened at $1,991.55 on Friday. The company’s 50-day moving average price is $1,928.22 and its 200-day moving average price is $1,985.72. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67. The stock has a market cap of $23.08 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.52 and a beta of 0.63. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, beating the consensus estimate of $43.31 by $1.55. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.20 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. During the same quarter in the previous year, the company posted $37.79 EPS. As a group, equities analysts predict that First Citizens BancShares, Inc. will post 177.84 earnings per share 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 $2.10 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s dividend payout ratio is presently 4.83%.

Analysts Set New Price Targets

Several brokerages have issued reports on FCNCA. Barclays lowered their target price on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research note on Monday, January 26th. Wall Street Zen cut shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings cut shares of First Citizens BancShares from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. lowered their target price on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Finally, Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research note on Friday, April 24th. One 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 company’s stock. According to data from MarketBeat, the stock presently 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.