Marnell Management LLC Purchases Shares of 2,105 First Citizens BancShares, Inc. $FCNCA

Marnell Management LLC purchased a new stake in First Citizens BancShares, Inc. (NASDAQ:FCNCA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,105 shares of the bank’s stock, valued at approximately $4,518,000. First Citizens BancShares makes up about 2.2% of Marnell Management LLC’s portfolio, making the stock its 12th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hiddenite Capital Partners LP purchased a new stake in shares of First Citizens BancShares in the 4th quarter valued at about $6,868,000. Citigroup Inc. raised its holdings in shares of First Citizens BancShares by 23.4% in the 3rd quarter. Citigroup Inc. now owns 16,938 shares of the bank’s stock valued at $30,305,000 after acquiring an additional 3,215 shares in the last quarter. Check Capital Management Inc. CA raised its holdings in shares of First Citizens BancShares by 21.0% in the 4th quarter. Check Capital Management Inc. CA now owns 42,788 shares of the bank’s stock valued at $91,831,000 after acquiring an additional 7,424 shares in the last quarter. Founders Financial Alliance LLC raised its holdings in shares of First Citizens BancShares by 484.7% in the 3rd quarter. Founders Financial Alliance LLC now owns 1,532 shares of the bank’s stock valued at $2,742,000 after acquiring an additional 1,270 shares in the last quarter. Finally, Barr E S & Co. raised its holdings in shares of First Citizens BancShares by 33.2% in the 4th quarter. Barr E S & Co. now owns 5,995 shares of the bank’s stock valued at $12,866,000 after acquiring an additional 1,495 shares in the last quarter. Hedge funds and other institutional investors own 78.01% of the company’s stock.

First Citizens BancShares Price Performance

FCNCA opened at $2,108.61 on Monday. The stock’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 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 1 year low of $1,623.76 and a 1 year high of $2,232.21. The firm has a market cap of $24.44 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.61 and a beta of 0.62.

First Citizens BancShares (NASDAQ:FCNCA) last posted 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. First Citizens BancShares had a return on equity of 11.48% and a net margin of 15.62%.The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $37.79 EPS. As a group, analysts predict 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 declared 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 dividend payout ratio (DPR) is presently 4.83%.

Insider Transactions at First Citizens BancShares

In related news, CEO Frank B. Holding, Jr. purchased 5,940 shares of First Citizens BancShares stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average cost of $1,726.82 per share, for a total transaction of $10,257,310.80. Following the transaction, the chief executive officer directly owned 38,111 shares in the company, valued at $65,810,837.02. The trade was a 18.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders purchased 7,288 shares of company stock worth $12,725,768. 14.63% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Piper Sandler set a $2,050.00 price target on First Citizens BancShares in a report on Friday, April 24th. JPMorgan Chase & Co. lowered their price target on First Citizens BancShares from $2,200.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Zacks Research upgraded First Citizens BancShares from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Citigroup reiterated a “neutral” rating on shares of First Citizens BancShares in a research report on Friday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lowered First Citizens BancShares from a “buy” rating to a “hold” rating and set a $2,154.00 price objective on the stock. in a research report on Wednesday, April 8th. One 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. According to data from MarketBeat.com, First Citizens BancShares has a consensus rating of “Hold” and a consensus target price of $2,215.91.

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.