Lighthouse Investment Partners LLC Makes New Investment in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Lighthouse Investment Partners LLC bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 907 shares of the bank’s stock, valued at approximately $1,917,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Interval Partners LP bought a new stake in shares of First Citizens BancShares in the fourth quarter worth $5,063,000. Ground Swell Capital LLC bought a new stake in shares of First Citizens BancShares in the fourth quarter worth $300,000. Focus Partners Wealth grew its holdings in shares of First Citizens BancShares by 47.7% in the fourth quarter. Focus Partners Wealth now owns 229 shares of the bank’s stock worth $505,000 after acquiring an additional 74 shares during the period. Driehaus Capital Management LLC grew its holdings in shares of First Citizens BancShares by 10.5% in the fourth quarter. Driehaus Capital Management LLC now owns 661 shares of the bank’s stock worth $1,397,000 after acquiring an additional 63 shares during the period. Finally, Cetera Investment Advisers grew its holdings in shares of First Citizens BancShares by 20.1% in the fourth quarter. Cetera Investment Advisers now owns 1,453 shares of the bank’s stock worth $3,069,000 after acquiring an additional 243 shares during the period. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Stock Performance

NASDAQ:FCNCA opened at $1,955.12 on Wednesday. The stock has a 50-day simple moving average of $1,773.72 and a two-hundred day simple moving average of $2,008.58. First Citizens BancShares, Inc. has a 52-week low of $1,473.62 and a 52-week high of $2,412.93. The firm has a market capitalization of $26.54 billion, a PE ratio of 10.32, a P/E/G ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.08 and a current ratio of 1.08.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $37.79 EPS for the quarter, beating the consensus estimate of $37.72 by $0.07. First Citizens BancShares had a return on equity of 13.22% and a net margin of 18.55%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.22 billion. Analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a $1.95 dividend. The ex-dividend date is Friday, May 30th. This represents a $7.80 annualized dividend and a dividend yield of 0.40%. First Citizens BancShares’s payout ratio is 4.47%.

Analysts Set New Price Targets

Several analysts recently commented on FCNCA shares. The Goldman Sachs Group cut their price objective on First Citizens BancShares from $2,535.00 to $2,200.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Barclays cut their price objective on First Citizens BancShares from $2,568.00 to $2,400.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. Keefe, Bruyette & Woods boosted their price target on First Citizens BancShares from $2,500.00 to $2,600.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Piper Sandler raised First Citizens BancShares from a “neutral” rating to an “overweight” rating and set a $2,250.00 price target for the company in a report on Tuesday, March 11th. Finally, Truist Financial boosted their price target on First Citizens BancShares from $2,303.00 to $2,384.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,330.82.

Insider Activity

In other news, CFO Craig L. Nix bought 17 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $1,881.13 per share, for a total transaction of $31,979.21. Following the completion of the transaction, the chief financial officer now owns 1,141 shares of the company’s stock, valued at approximately $2,146,369.33. This represents a 1.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Frank B. Holding, Jr. bought 350 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was purchased at an average price of $1,610.00 per share, for a total transaction of $563,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,758 shares of the company’s stock, valued at $4,440,380. This represents a 14.53% increase in their position. The disclosure for this purchase can be found here. Company insiders own 13.40% of the company’s stock.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.