CenterBook Partners LP Purchases 1,126 Shares of First Citizens BancShares, Inc. $FCNCA

CenterBook Partners LP lifted its position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 225.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,625 shares of the bank’s stock after purchasing an additional 1,126 shares during the quarter. CenterBook Partners LP’s holdings in First Citizens BancShares were worth $2,907,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Allworth Financial LP boosted its stake in First Citizens BancShares by 35.3% in the second quarter. Allworth Financial LP now owns 23 shares of the bank’s stock worth $45,000 after buying an additional 6 shares in the last quarter. Personal CFO Solutions LLC lifted its holdings in shares of First Citizens BancShares by 4.0% in the 2nd quarter. Personal CFO Solutions LLC now owns 156 shares of the bank’s stock worth $305,000 after acquiring an additional 6 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of First Citizens BancShares by 40.0% in the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after purchasing an additional 6 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of First Citizens BancShares by 0.6% in the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock valued at $2,051,000 after purchasing an additional 6 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in shares of First Citizens BancShares by 2.0% during the 3rd quarter. Greenleaf Trust now owns 416 shares of the bank’s stock valued at $744,000 after purchasing an additional 8 shares during the last quarter. 78.01% of the stock is owned by hedge funds and other institutional investors.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $2,060.02 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.81. The firm has a market cap of $25.63 billion, a P/E ratio of 12.43 and a beta of 0.70. First Citizens BancShares, Inc. has a 1-year low of $1,473.62 and a 1-year high of $2,232.21. The firm has a 50-day moving average of $2,117.51 and a 200-day moving average of $1,950.02.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, topping the consensus estimate of $44.24 by $7.03. First Citizens BancShares had a return on equity of 11.12% and a net margin of 15.21%.The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Sell-side analysts expect that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $2.10 per share. 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, February 27th. First Citizens BancShares’s payout ratio is presently 5.07%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of First Citizens BancShares from $2,100.00 to $2,050.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Barclays lowered their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating for the company in a research note on Monday, January 26th. UBS Group set a $2,325.00 target price on First Citizens BancShares in a report on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price target on First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of First Citizens BancShares in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,238.27.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. bought 135 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average cost of $1,629.67 per share, with a total value of $220,005.45. Following the transaction, the chief executive officer owned 2,527 shares in the company, valued at approximately $4,118,176.09. This trade represents a 5.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.40% of the company’s stock.

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.