9,245 Shares in First Citizens BancShares, Inc. $FCNCA Acquired by Saber Capital Managment LLC

Saber Capital Managment LLC bought a new position in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,245 shares of the bank’s stock, valued at approximately $19,841,000. First Citizens BancShares makes up about 16.6% of Saber Capital Managment LLC’s investment portfolio, making the stock its 2nd biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new stake in shares of First Citizens BancShares in the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC raised its holdings in shares of First Citizens BancShares by 150.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after purchasing an additional 9 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of First Citizens BancShares by 40.0% in the 3rd quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after purchasing an additional 6 shares in the last quarter. Allworth Financial LP raised its holdings in shares of First Citizens BancShares by 21.7% in the 3rd quarter. Allworth Financial LP now owns 28 shares of the bank’s stock worth $51,000 after purchasing an additional 5 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of First Citizens BancShares by 50.0% in the 4th quarter. UMB Bank n.a. now owns 24 shares of the bank’s stock worth $52,000 after purchasing an additional 8 shares in the last quarter. 78.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. bought 5,940 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $1,726.82 per share, with a total value of $10,257,310.80. Following the completion of the transaction, the chief executive officer directly owned 38,111 shares in the company, valued at approximately $65,810,837.02. The trade was a 18.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 7,288 shares of company stock valued at $12,725,768 over the last quarter. Company insiders own 14.63% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 target price on the stock. in a report on Wednesday, April 8th. Piper Sandler set a $2,050.00 target price on shares of First Citizens BancShares in a report on Friday, April 24th. Keefe, Bruyette & Woods dropped their target price on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. Zacks Research upgraded shares of First Citizens BancShares from a “strong sell” rating to a “hold” rating in a report on Monday, March 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2,215.91.

First Citizens BancShares Stock Performance

First Citizens BancShares stock opened at $2,108.61 on Monday. The firm’s 50 day simple moving average is $1,988.48 and its 200-day simple moving average is $2,009.29. The company has a market cap of $24.44 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.61 and a beta of 0.62. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.00 and a quick ratio of 1.00. First Citizens BancShares, Inc. has a fifty-two week low of $1,623.76 and a fifty-two week high of $2,232.21.

First Citizens BancShares (NASDAQ:FCNCA) last released its earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share for the quarter, topping the consensus estimate of $43.31 by $1.55. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. During the same period last year, the firm posted $37.79 earnings per share. As a group, equities research analysts predict that First Citizens BancShares, Inc. will post 177.84 EPS for the current year.

First Citizens BancShares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, May 29th. First Citizens BancShares’s dividend payout ratio (DPR) is 4.83%.

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.