Hunting Hill Global Capital LLC Decreases Stake in First Citizens BancShares, Inc. $FCNCA

Hunting Hill Global Capital LLC reduced its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 67.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 263 shares of the bank’s stock after selling 537 shares during the period. Hunting Hill Global Capital LLC’s holdings in First Citizens BancShares were worth $564,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of First Citizens BancShares by 4.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 435,278 shares of the bank’s stock worth $778,785,000 after purchasing an additional 18,190 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Citizens BancShares by 117,518.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 205,833 shares of the bank’s stock worth $441,755,000 after purchasing an additional 205,658 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Citizens BancShares by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 124,061 shares of the bank’s stock worth $266,273,000 after purchasing an additional 492 shares in the last quarter. Morgan Stanley boosted its position in shares of First Citizens BancShares by 31.8% during the 4th quarter. Morgan Stanley now owns 123,048 shares of the bank’s stock worth $264,087,000 after purchasing an additional 29,681 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of First Citizens BancShares by 11.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,317 shares of the bank’s stock worth $262,514,000 after purchasing an additional 12,303 shares in the last quarter. 78.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FCNCA shares. Wall Street Zen lowered shares of First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. JPMorgan Chase & Co. decreased 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. Keefe, Bruyette & Woods decreased 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 research report on Thursday, April 9th. TD Cowen decreased their target price on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price target for the company. in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2,215.91.

First Citizens BancShares Trading Down 0.2%

NASDAQ:FCNCA opened at $2,089.82 on Thursday. The company has a market capitalization of $24.22 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.62 and a beta of 0.62. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.67. First Citizens BancShares, Inc. has a 52-week low of $1,623.76 and a 52-week high of $2,232.21. The stock has a fifty day simple moving average of $1,998.72 and a 200-day simple moving average of $2,013.48.

First Citizens BancShares (NASDAQ:FCNCA) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $44.86 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company posted $37.79 EPS. On average, equities research analysts expect that First Citizens BancShares, Inc. will post 175.61 earnings per share for the current fiscal year.

First Citizens BancShares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, May 29th. First Citizens BancShares’s payout ratio is 4.83%.

Insiders Place Their Bets

In other news, CEO Frank B. Holding, Jr. bought 5,940 shares of First Citizens BancShares stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the acquisition, the chief executive officer owned 38,111 shares in the company, valued at approximately $65,810,837.02. This trade represents a 18.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have bought 7,190 shares of company stock valued at $12,573,868. Insiders own 14.63% of the company’s stock.

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.