De Lisle Partners LLP Takes Position in First Citizens BancShares, Inc. (NASDAQ:FCNCA)

Key Points

• De Lisle Partners LLP acquired a new stake in First Citizens BancShares, purchasing 1,000 shares valued at approximately $1,853,000.
• Institutional investors collectively own 78.01% of First Citizens BancShares, with notable increases in stakes from firms like Sei Investments and LPL Financial.
• First Citizens BancShares recently declared a quarterly dividend of $1.95 per share, translating to an annualized dividend yield of 0.38%.

De Lisle Partners LLP purchased a new stake in shares of First Citizens BancShares, Inc. (NASDAQ:FCNCA - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,000 shares of the bank's stock, valued at approximately $1,853,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of First Citizens BancShares by 169,861.1% during the first quarter. GAMMA Investing LLC now owns 122,372 shares of the bank's stock valued at $226,892,000 after purchasing an additional 122,300 shares in the last quarter. Capital International Investors increased its stake in shares of First Citizens BancShares by 78.2% during the fourth quarter. Capital International Investors now owns 172,723 shares of the bank's stock valued at $364,967,000 after purchasing an additional 75,785 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of First Citizens BancShares by 83.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,523 shares of the bank's stock valued at $227,198,000 after purchasing an additional 48,994 shares in the last quarter. FMR LLC increased its stake in shares of First Citizens BancShares by 10.5% during the fourth quarter. FMR LLC now owns 357,629 shares of the bank's stock valued at $755,677,000 after purchasing an additional 34,097 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of First Citizens BancShares during the fourth quarter valued at approximately $66,972,000. Hedge funds and other institutional investors own 78.01% of the company's stock.

First Citizens BancShares Trading Down 4.1%

Shares of FCNCA stock traded down $82.12 during trading hours on Friday, reaching $1,912.64. 119,095 shares of the stock were exchanged, compared to its average volume of 85,118. First Citizens BancShares, Inc. has a 12-month low of $1,473.62 and a 12-month high of $2,412.93. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.77. The company's 50-day moving average price is $1,964.23 and its 200-day moving average price is $1,937.84. The firm has a market capitalization of $25.42 billion, a price-to-earnings ratio of 11.29 and a beta of 0.64.

First Citizens BancShares (NASDAQ:FCNCA - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The bank reported $44.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.08 by $5.70. The company had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.21 billion. First Citizens BancShares had a net margin of 16.37% and a return on equity of 11.30%. As a group, equities analysts anticipate that First Citizens BancShares, Inc. will post 167.59 earnings per share for the current year.

First Citizens BancShares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $1.95 dividend. The ex-dividend date is Friday, August 29th. This represents a $7.80 annualized dividend and a dividend yield of 0.4%. First Citizens BancShares's payout ratio is currently 4.60%.

Insider Activity at First Citizens BancShares

In other news, major shareholder Olivia Britton Holding acquired 66 shares of First Citizens BancShares stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of $1,735.00 per share, for a total transaction of $114,510.00. Following the purchase, the insider directly owned 121,926 shares in the company, valued at $211,541,610. The trade was a 0.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

FCNCA has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of First Citizens BancShares from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Barclays cut their price target on shares of First Citizens BancShares from $2,568.00 to $2,400.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Cowen restated a "buy" rating on shares of First Citizens BancShares in a report on Monday. TD Cowen began coverage on shares of First Citizens BancShares in a report on Thursday, May 15th. They issued a "buy" rating and a $2,400.00 target price on the stock. Finally, Piper Sandler set a $2,150.00 target price on shares of First Citizens BancShares and gave the stock a "neutral" rating in a report on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $2,291.17.

First Citizens BancShares Company Profile

First Citizens BancShares, Inc operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals. The company's deposit products include checking, savings, money market, and time deposit accounts.