First Citizens BancShares, Inc. $FCNCA Shares Purchased by Reinhart Partners LLC.

Reinhart Partners LLC. grew its holdings in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 70,248 shares of the bank’s stock after acquiring an additional 969 shares during the period. First Citizens BancShares accounts for 4.1% of Reinhart Partners LLC.’s portfolio, making the stock its 5th biggest position. Reinhart Partners LLC.’s holdings in First Citizens BancShares were worth $125,715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in First Citizens BancShares by 1.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 37,389 shares of the bank’s stock valued at $69,324,000 after acquiring an additional 681 shares during the last quarter. Empowered Funds LLC lifted its position in shares of First Citizens BancShares by 71.9% during the first quarter. Empowered Funds LLC now owns 392 shares of the bank’s stock worth $727,000 after purchasing an additional 164 shares during the last quarter. Focus Partners Wealth grew its stake in First Citizens BancShares by 5.2% in the first quarter. Focus Partners Wealth now owns 241 shares of the bank’s stock worth $447,000 after purchasing an additional 12 shares in the last quarter. Strs Ohio acquired a new position in First Citizens BancShares in the first quarter worth about $1,074,000. Finally, Voya Investment Management LLC increased its holdings in First Citizens BancShares by 0.5% in the first quarter. Voya Investment Management LLC now owns 1,668 shares of the bank’s stock valued at $3,093,000 after buying an additional 8 shares during the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FCNCA shares. Raymond James Financial upgraded First Citizens BancShares from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $2,100.00 to $2,200.00 in a research report on Thursday, November 20th. Wall Street Zen downgraded shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a report on Sunday, September 28th. Truist Financial boosted their target price on shares of First Citizens BancShares from $2,000.00 to $2,050.00 and gave the company a “hold” rating in a research note on Tuesday, October 28th. Barclays raised their price target on shares of First Citizens BancShares from $2,190.00 to $2,456.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Finally, UBS Group reaffirmed a “buy” rating and set a $2,500.00 price objective on shares of First Citizens BancShares in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,250.55.

Insider Activity at First Citizens BancShares

In other First Citizens BancShares news, Director Ellen R. Alemany bought 300 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average price of $1,000.00 per share, with a total value of $300,000.00. Following the purchase, the director directly owned 300 shares of the company’s stock, valued at approximately $300,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Frank B. Holding, Jr. purchased 135 shares of First Citizens BancShares stock in a transaction on Wednesday, November 26th. The shares were acquired at an average price of $1,629.67 per share, with a total value of $220,005.45. Following the transaction, the chief executive officer directly owned 2,527 shares in the company, valued at $4,118,176.09. This trade represents a 5.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 13.40% of the company’s stock.

First Citizens BancShares Stock Performance

FCNCA stock opened at $2,169.35 on Friday. First Citizens BancShares, Inc. has a 1 year low of $1,473.62 and a 1 year high of $2,412.93. The stock has a market capitalization of $26.99 billion, a price-to-earnings ratio of 12.83 and a beta of 0.69. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s fifty day moving average is $2,027.44 and its two-hundred day moving average is $1,951.49.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $44.62 earnings per share for the quarter, topping analysts’ consensus estimates of $41.51 by $3.11. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.21 billion. First Citizens BancShares had a net margin of 15.99% and a return on equity of 11.09%. On average, research analysts predict that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from First Citizens BancShares’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend was Friday, November 28th. First Citizens BancShares’s dividend payout ratio is presently 4.97%.

First Citizens BancShares Company 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.