First Citizens BancShares, Inc. $FCNCA Shares Sold by Siena Capital Partners GP LLC

Siena Capital Partners GP LLC reduced its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 21.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,459 shares of the bank’s stock after selling 1,525 shares during the period. First Citizens BancShares makes up approximately 2.8% of Siena Capital Partners GP LLC’s holdings, making the stock its 5th biggest holding. Siena Capital Partners GP LLC’s holdings in First Citizens BancShares were worth $9,767,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FCNCA. EJF Capital LLC raised its holdings in shares of First Citizens BancShares by 2.9% during the third quarter. EJF Capital LLC now owns 2,273 shares of the bank’s stock worth $4,067,000 after acquiring an additional 64 shares during the period. Harvest Portfolios Group Inc. increased its holdings in First Citizens BancShares by 8.0% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 3,292 shares of the bank’s stock worth $5,890,000 after purchasing an additional 244 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of First Citizens BancShares in the 3rd quarter valued at about $77,000. Aster Capital Management DIFC Ltd bought a new stake in shares of First Citizens BancShares in the third quarter valued at about $216,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of First Citizens BancShares by 12.1% in the third quarter. Handelsbanken Fonder AB now owns 2,772 shares of the bank’s stock valued at $4,960,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

Shares of FCNCA opened at $1,898.15 on Friday. The company’s 50-day moving average is $2,102.42 and its 200-day moving average is $1,956.50. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $23.61 billion, a PE ratio of 11.45 and a beta of 0.70. First Citizens BancShares, Inc. has a fifty-two week low of $1,473.62 and a fifty-two week high of $2,232.21.

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 the consensus estimate of $44.24 by $7.03. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.24 billion. First Citizens BancShares had a return on equity of 11.18% and a net margin of 15.21%. Equities analysts forecast that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 27th. First Citizens BancShares’s dividend payout ratio (DPR) is currently 5.07%.

Analyst Ratings Changes

A number of research firms have weighed in on FCNCA. TD Cowen reduced their price target on First Citizens BancShares from $2,600.00 to $2,500.00 and set a “buy” rating for the company in a research report on Monday, January 26th. UBS Group set a $2,325.00 target price on shares of First Citizens BancShares in a report on Wednesday, February 4th. Barclays lowered their price target on shares of First Citizens BancShares from $2,456.00 to $2,346.00 and set an “equal weight” rating on the stock in a research note on Monday, January 26th. Piper Sandler increased their price objective on shares of First Citizens BancShares from $2,000.00 to $2,100.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of First Citizens BancShares in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,238.27.

About First Citizens BancShares

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.