First Citizens BancShares, Inc. $FCNCA Shares Sold by Semanteon Capital Management LP

Semanteon Capital Management LP reduced its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 59.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 298 shares of the bank’s stock after selling 445 shares during the quarter. Semanteon Capital Management LP’s holdings in First Citizens BancShares were worth $533,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. AlphaQuest LLC grew its stake in shares of First Citizens BancShares by 577.7% in the third quarter. AlphaQuest LLC now owns 759 shares of the bank’s stock valued at $1,358,000 after buying an additional 647 shares in the last quarter. Founders Financial Alliance LLC boosted its holdings in First Citizens BancShares by 484.7% in the third quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank’s stock valued at $2,742,000 after purchasing an additional 1,270 shares during the period. AdvisorShares Investments LLC purchased a new stake in shares of First Citizens BancShares during the third quarter worth approximately $415,000. Thrivent Financial for Lutherans increased its position in shares of First Citizens BancShares by 8.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 43,787 shares of the bank’s stock valued at $78,341,000 after purchasing an additional 3,587 shares during the last quarter. Finally, Live Oak Private Wealth LLC raised its stake in First Citizens BancShares by 58.1% in the third quarter. Live Oak Private Wealth LLC now owns 3,297 shares of the bank’s stock valued at $5,899,000 after buying an additional 1,211 shares in the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

First Citizens BancShares Trading Down 1.4%

Shares of First Citizens BancShares stock opened at $2,016.58 on Friday. The company has a 50-day moving average of $2,115.99 and a two-hundred day moving average of $1,952.22. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,232.21. 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 stock has a market cap of $25.09 billion, a PE ratio of 12.17 and a beta of 0.70.

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

First Citizens BancShares Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a yield of 0.4%. First Citizens BancShares’s payout ratio is presently 5.07%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of First Citizens BancShares from $2,300.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Barclays dropped their target price on First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a report on Monday, January 26th. Truist Financial lifted their target price on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the company a “hold” rating in a report on Monday, January 26th. The Goldman Sachs Group downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 price objective for the company. in a research report on Tuesday, January 6th. Finally, Zacks Research cut First Citizens BancShares from a “hold” rating to a “strong sell” rating in a research report on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, First Citizens BancShares presently has a consensus rating of “Moderate Buy” and an average price target of $2,238.27.

Insider Activity

In related news, CEO Frank B. Holding, Jr. bought 135 shares of First Citizens BancShares stock in a transaction that occurred on Wednesday, November 26th. The shares were purchased at an average price of $1,629.67 per share, with a total value of $220,005.45. Following the purchase, the chief executive officer owned 2,527 shares in the company, valued at $4,118,176.09. This represents a 5.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.40% of the stock is owned by corporate 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.