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

Siena Capital Partners GP LLC cut its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 20.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,344 shares of the bank’s stock after selling 1,115 shares during the period. First Citizens BancShares comprises approximately 2.5% of Siena Capital Partners GP LLC’s portfolio, making the stock its 5th largest holding. Siena Capital Partners GP LLC’s holdings in First Citizens BancShares were worth $9,323,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FCNCA. Hilton Head Capital Partners LLC acquired a new position in shares of First Citizens BancShares during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new position in shares of First Citizens BancShares during the third quarter worth about $27,000. Harbor Investment Advisory LLC grew its position in shares of First Citizens BancShares by 150.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 15 shares of the bank’s stock worth $32,000 after buying an additional 9 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of First Citizens BancShares by 280.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 19 shares of the bank’s stock worth $34,000 after buying an additional 14 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of First Citizens BancShares by 40.0% during the third quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock worth $38,000 after buying an additional 6 shares in the last quarter. 78.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at First Citizens BancShares

In other news, CEO Frank B. Holding, Jr. sold 5,346 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $1,918.69, for a total value of $10,257,316.74. Following the completion of the sale, the chief executive officer directly owned 100,654 shares of the company’s stock, valued at approximately $193,123,823.26. This represents a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 6,187 shares of company stock valued at $10,640,161 over the last three months. 14.63% of the stock is currently owned by corporate insiders.

First Citizens BancShares Price Performance

FCNCA stock opened at $2,075.10 on Monday. The company has a market capitalization of $24.04 billion, a P/E ratio of 11.93, a PEG ratio of 1.58 and a beta of 0.62. First Citizens BancShares, Inc. has a twelve month low of $1,623.76 and a twelve month high of $2,232.21. The business has a 50 day simple moving average of $1,965.38 and a 200-day simple moving average of $1,999.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.67.

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

First Citizens BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued 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 is presently 4.83%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FCNCA shares. Weiss Ratings downgraded First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Citigroup reissued a “neutral” rating on shares of First Citizens BancShares in a report on Friday, April 24th. Keefe, Bruyette & Woods cut their price objective 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. Piper Sandler set a $2,050.00 price objective on shares of First Citizens BancShares in a report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price target on the stock. in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Citizens BancShares currently has a consensus rating of “Hold” and a consensus target price of $2,215.91.

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.