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

Havemeyer Place LP purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 496 shares of the bank’s stock, valued at approximately $1,065,000.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of First Citizens BancShares during the 3rd quarter valued at about $27,000. Harbor Investment Advisory LLC raised its holdings in shares of First Citizens BancShares by 150.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock valued at $32,000 after buying an additional 9 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of First Citizens BancShares by 280.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock valued at $34,000 after buying an additional 14 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of First Citizens BancShares by 40.0% during the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after buying an additional 6 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of First Citizens BancShares by 21.7% during the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock valued at $51,000 after buying an additional 5 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

Shares of NASDAQ FCNCA opened at $2,075.10 on Monday. 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’s 50-day moving average is $1,965.38 and its 200 day moving average is $1,999.85. The stock has a market cap of $24.04 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 1.58 and a beta of 0.62. First Citizens BancShares, Inc. has a 1-year low of $1,623.76 and a 1-year 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 EPS for the quarter, topping analysts’ consensus estimates of $43.31 by $1.55. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm earned $37.79 EPS. On average, sell-side analysts anticipate that First Citizens BancShares, Inc. will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, May 29th. First Citizens BancShares’s payout ratio is 4.83%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FCNCA. Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Deutsche Bank Aktiengesellschaft cut First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective on the stock. in a report on Wednesday, April 8th. Piper Sandler set a $2,050.00 price objective on First Citizens BancShares in a report on Friday, April 24th. JPMorgan Chase & Co. decreased their price objective on First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Finally, TD Cowen decreased their price objective on First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a report on Monday, April 27th. One 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2,215.91.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. purchased 5,940 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average cost of $1,726.82 per share, with a total value of $10,257,310.80. Following the purchase, the chief executive officer directly owned 38,111 shares of the company’s stock, valued at approximately $65,810,837.02. This trade represents a 18.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders purchased 6,187 shares of company stock valued at $10,640,161. 14.63% of the stock is owned by insiders.

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.