Centiva Capital LP Takes $700,000 Position in First Citizens BancShares, Inc. $FCNCA

Centiva Capital LP bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 391 shares of the bank’s stock, valued at approximately $700,000.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in First Citizens BancShares by 4.4% in the third quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock worth $778,785,000 after buying an additional 18,190 shares during the last quarter. Norges Bank bought a new position in First Citizens BancShares during the second quarter valued at $177,604,000. Alliancebernstein L.P. raised its stake in shares of First Citizens BancShares by 16.3% in the third quarter. Alliancebernstein L.P. now owns 78,310 shares of the bank’s stock valued at $140,109,000 after acquiring an additional 10,948 shares during the period. Reinhart Partners LLC. raised its stake in shares of First Citizens BancShares by 1.4% in the third quarter. Reinhart Partners LLC. now owns 70,248 shares of the bank’s stock valued at $125,715,000 after acquiring an additional 969 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of First Citizens BancShares by 2.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,276 shares of the bank’s stock worth $118,578,000 after acquiring an additional 1,450 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on FCNCA. Truist Financial lifted their price target on shares of First Citizens BancShares from $2,050.00 to $2,150.00 and gave the stock a “hold” rating 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 report on Thursday, January 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Citizens BancShares in a research note on Monday, December 29th. The Goldman Sachs Group lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,300.00 target price 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 note on Monday, February 16th. 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 issued a Sell rating to the stock. According to MarketBeat, First Citizens BancShares currently has a consensus rating of “Moderate Buy” and an average target price of $2,238.27.

First Citizens BancShares Trading Down 3.0%

FCNCA stock opened at $1,768.04 on Monday. The company has a market capitalization of $21.11 billion, a PE ratio of 10.67 and a beta of 0.68. First Citizens BancShares, Inc. has a 12 month low of $1,473.62 and a 12 month high of $2,232.21. The firm’s 50-day moving average is $2,048.46 and its 200 day moving average is $1,953.45. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.03 and a quick ratio of 1.03.

First Citizens BancShares (NASDAQ:FCNCA) last announced its quarterly earnings data on Friday, January 23rd. The bank reported $51.27 earnings per share for the quarter, beating analysts’ consensus estimates of $44.24 by $7.03. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. First Citizens BancShares had a net margin of 15.21% and a return on equity of 11.18%. On average, research analysts anticipate that First Citizens BancShares, Inc. will post 167.59 EPS for the current year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a $2.10 dividend. The ex-dividend date is Friday, February 27th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 0.5%. First Citizens BancShares’s payout ratio is presently 5.07%.

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.