1,971 First Citizens BancShares, Inc. $FCNCA Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. trimmed its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,235 shares of the bank’s stock after selling 1,971 shares during the quarter. First Citizens BancShares accounts for about 4.1% of Reinhart Partners LLC.’s portfolio, making the stock its 4th biggest holding. Reinhart Partners LLC. owned 0.73% of First Citizens BancShares worth $169,421,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of First Citizens BancShares in the second quarter worth about $31,000. Jones Financial Companies Lllp acquired a new position in First Citizens BancShares in the 2nd quarter valued at approximately $42,000. Reflection Asset Management acquired a new position in shares of First Citizens BancShares in the fourth quarter worth $45,000. Global Assets Advisory LLC purchased a new stake in shares of First Citizens BancShares during the 1st quarter worth about $45,000. Finally, Steph & Co. lifted its holdings in shares of First Citizens BancShares by 71.4% during the 1st quarter. Steph & Co. now owns 36 shares of the bank’s stock valued at $68,000 after buying an additional 15 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

First Citizens BancShares Stock Up 0.1%

Shares of FCNCA stock opened at $2,068.39 on Friday. First Citizens BancShares, Inc. has a one year low of $1,623.76 and a one year high of $2,296.30. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a fifty day moving average price of $2,156.64 and a 200 day moving average price of $2,069.42. The stock has a market cap of $23.35 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

First Citizens BancShares (NASDAQ:FCNCA) last issued its earnings results on Thursday, July 23rd. The bank reported $57.09 earnings per share for the quarter, beating the consensus estimate of $0.41 by $56.68. First Citizens BancShares had a net margin of 16.28% and a return on equity of 12.07%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.16 billion. Analysts predict that First Citizens BancShares, Inc. will post 193.20 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a $2.10 dividend. The ex-dividend date was Monday, August 31st. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s payout ratio is 4.49%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FCNCA shares. The Goldman Sachs Group lifted their price objective on shares of First Citizens BancShares from $2,100.00 to $2,340.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Truist Financial upped their price target on shares of First Citizens BancShares from $2,150.00 to $2,323.00 and gave the company a “hold” rating in a report on Tuesday, July 28th. Fundamental Research set a $2,350.00 price target on First Citizens BancShares in a research report on Wednesday, July 1st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,300.00 price target on shares of First Citizens BancShares in a research report on Thursday, July 23rd. Finally, Wall Street Zen raised First Citizens BancShares from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2,261.00.

Insider Activity

In other news, Director Diane Morais acquired 50 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $2,168.11 per share, with a total value of $108,405.50. Following the completion of the acquisition, the director owned 100 shares in the company, valued at approximately $216,811. This represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Olivia Britton Holding sold 7,000 shares of First Citizens BancShares stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $19.53, for a total transaction of $136,710.00. Following the completion of the transaction, the insider owned 15,000 shares of the company’s stock, valued at $292,950. This trade represents a 31.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.63% of the stock is currently owned by corporate insiders.

First Citizens BancShares Profile

First Citizens BancShares, Inc is a financial holding company headquartered in Raleigh, North Carolina. Through its principal subsidiary, First-Citizens Bank & Trust Company, the company provides banking and financial services to individuals, businesses, nonprofit organizations and government entities.

Its offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, treasury management, wealth management and investment services.