Systematic Financial Management LP Lowers Stock Position in First Citizens BancShares, Inc. $FCNCA

Systematic Financial Management LP lowered its position in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 14.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,581 shares of the bank’s stock after selling 2,911 shares during the period. Systematic Financial Management LP’s holdings in First Citizens BancShares were worth $37,735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP lifted its position in First Citizens BancShares by 21.7% during the third quarter. Allworth Financial LP now owns 28 shares of the bank’s stock valued at $51,000 after buying an additional 5 shares during the period. MBL Wealth LLC lifted its position in First Citizens BancShares by 0.8% during the fourth quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock valued at $1,335,000 after buying an additional 5 shares during the period. Alteri Wealth LLC lifted its position in First Citizens BancShares by 4.1% during the third quarter. Alteri Wealth LLC now owns 154 shares of the bank’s stock valued at $276,000 after buying an additional 6 shares during the period. Fifth Third Bancorp lifted its position in First Citizens BancShares by 40.0% during the third quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after buying an additional 6 shares during the period. Finally, Corient Private Wealth LLC lifted its position in First Citizens BancShares by 0.6% during the second quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after buying an additional 6 shares during the period. Hedge funds and other institutional investors own 78.01% of the company’s stock.

Insider Buying and Selling

In related 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 value of $10,257,316.74. Following the completion of the sale, the chief executive officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders bought 6,198 shares of company stock valued at $10,661,547. 14.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FCNCA shares. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings lowered First Citizens BancShares from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. TD Cowen lowered their price target on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Finally, Zacks Research raised First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2,215.91.

First Citizens BancShares Price Performance

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

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data 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 company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the company earned $37.79 EPS. On average, sell-side analysts forecast that First Citizens BancShares, Inc. will post 177.84 EPS for the current year.

First Citizens BancShares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, May 29th. First Citizens BancShares’s dividend payout ratio (DPR) is presently 4.83%.

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.