Founders Financial Alliance LLC Has $2.75 Million Stock Holdings in First Citizens BancShares, Inc. $FCNCA

Founders Financial Alliance LLC cut its holdings in First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,283 shares of the bank’s stock after selling 249 shares during the quarter. Founders Financial Alliance LLC’s holdings in First Citizens BancShares were worth $2,753,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FCNCA. Hiddenite Capital Partners LP acquired a new stake in shares of First Citizens BancShares in the fourth quarter worth $6,868,000. Citigroup Inc. lifted its stake in shares of First Citizens BancShares by 23.4% in the third quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock worth $30,305,000 after buying an additional 3,215 shares during the last quarter. Check Capital Management Inc. CA lifted its stake in shares of First Citizens BancShares by 21.0% in the fourth quarter. Check Capital Management Inc. CA now owns 42,788 shares of the bank’s stock worth $91,831,000 after buying an additional 7,424 shares during the last quarter. Barr E S & Co. lifted its stake in shares of First Citizens BancShares by 33.2% in the fourth quarter. Barr E S & Co. now owns 5,995 shares of the bank’s stock worth $12,866,000 after buying an additional 1,495 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of First Citizens BancShares by 122.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,440 shares of the bank’s stock worth $5,237,000 after buying an additional 1,342 shares during the last quarter. 78.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FCNCA shares. TD Cowen reduced their price objective on shares of First Citizens BancShares from $2,500.00 to $2,300.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Keefe, Bruyette & Woods reduced their price objective on shares of First Citizens BancShares from $2,375.00 to $2,300.00 and set an “outperform” rating for the company in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft cut shares of First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective for the company. in a research note on Wednesday, April 8th. Citigroup restated a “neutral” rating on shares of First Citizens BancShares in a research note on Friday, April 24th. Finally, Weiss Ratings cut shares of First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, First Citizens BancShares presently has an average rating of “Hold” and a consensus target price of $2,215.91.

First Citizens BancShares Price Performance

NASDAQ:FCNCA opened at $2,117.01 on Friday. The stock has a market cap of $24.54 billion, a P/E ratio of 12.18, a PEG ratio of 1.61 and a beta of 0.62. First Citizens BancShares, Inc. has a one year low of $1,623.76 and a one year high of $2,232.21. The company has a fifty day moving average price of $1,984.20 and a 200 day moving average price of $2,007.51. 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 (NASDAQ:FCNCA) last released its earnings results on Thursday, April 23rd. The bank reported $44.86 EPS for the quarter, beating the consensus estimate of $43.31 by $1.55. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $37.79 EPS. Analysts anticipate that First Citizens BancShares, Inc. will post 177.84 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, May 29th. First Citizens BancShares’s dividend payout ratio is presently 4.83%.

Insider Buying and Selling

In related news, CEO Frank B. Holding, Jr. bought 5,940 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the purchase, the chief executive officer directly owned 38,111 shares in the company, valued at $65,810,837.02. This trade represents a 18.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have acquired 7,288 shares of company stock worth $12,725,768. 14.63% of the stock is owned by corporate insiders.

About First Citizens BancShares

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.