Gator Capital Management LLC Has $19.72 Million Holdings in First Citizens BancShares, Inc. $FCNCA

Gator Capital Management LLC reduced its stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA) by 3.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,189 shares of the bank’s stock after selling 306 shares during the period. First Citizens BancShares comprises 4.0% of Gator Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position. Gator Capital Management LLC owned approximately 0.07% of First Citizens BancShares worth $19,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP boosted its position in shares of First Citizens BancShares by 21.7% in the third quarter. Allworth Financial LP now owns 28 shares of the bank’s stock valued at $51,000 after acquiring an additional 5 shares during the period. MBL Wealth LLC increased its position in shares of First Citizens BancShares by 0.8% in the fourth quarter. MBL Wealth LLC now owns 622 shares of the bank’s stock worth $1,335,000 after purchasing an additional 5 shares during the last quarter. Alteri Wealth LLC increased its stake in First Citizens BancShares by 4.1% in the third quarter. Alteri Wealth LLC now owns 154 shares of the bank’s stock valued at $276,000 after acquiring an additional 6 shares during the last quarter. Fifth Third Bancorp increased its stake in First Citizens BancShares by 40.0% in the third quarter. Fifth Third Bancorp now owns 21 shares of the bank’s stock valued at $38,000 after acquiring an additional 6 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in First Citizens BancShares by 0.6% in the 2nd quarter. Corient Private Wealth LLC now owns 1,049 shares of the bank’s stock worth $2,051,000 after buying an additional 6 shares during the last quarter. Institutional investors own 78.01% of the company’s stock.

Analyst Ratings Changes

FCNCA has been the topic of several recent research reports. Keefe, Bruyette & Woods reduced their price target on 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. Piper Sandler set a $2,050.00 price target on First Citizens BancShares in a research report on Friday, April 24th. Wall Street Zen lowered First Citizens BancShares from a “hold” rating to a “sell” rating in a research report on Saturday. Citigroup reaffirmed a “neutral” rating on shares of First Citizens BancShares in a research report on Friday, April 24th. Finally, Weiss Ratings cut First Citizens BancShares from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2,215.91.

Insider Transactions at First Citizens BancShares

In other First Citizens BancShares news, CEO Frank B. Holding, Jr. bought 528 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $1,813.37 per share, for a total transaction of $957,459.36. Following the completion of the transaction, the chief executive officer owned 64,100 shares of the company’s stock, valued at $116,237,017. This represents a 0.83% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 7,288 shares of company stock worth $12,725,768 in the last three months. Insiders own 14.63% of the company’s stock.

First Citizens BancShares Trading Down 0.4%

Shares of NASDAQ FCNCA opened at $2,108.61 on Friday. The firm’s 50 day moving average price is $1,988.48 and its 200-day moving average price is $2,008.21. The company has a market cap of $24.44 billion, a PE ratio of 12.13, a P/E/G ratio of 1.61 and a beta of 0.62. First Citizens BancShares, Inc. has a 52-week low of $1,623.76 and a 52-week high of $2,232.21. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.00 and a current ratio of 1.00.

First Citizens BancShares (NASDAQ:FCNCA) last issued its 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. First Citizens BancShares had a net margin of 15.62% and a return on equity of 11.48%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm posted $37.79 earnings per share. On average, equities research analysts expect that First Citizens BancShares, Inc. will post 177.84 EPS for the current fiscal year.

First Citizens BancShares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given 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 payout ratio is 4.83%.

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.